Fleet News

Daily rental option for modern fleets

FLEETS should view daily rental as a viable long-term finance alternative for their vehicles alongside contract hire, finance lease and outright purchase.

The call is being made by TLS Vehicle Rental, which is positioning itself as a flexible fleet funding provider.

Its executives argue that the unpredictable nature of modern business means that flexible funding products are an important consideration, particularly in the van market.

Sean Welham, marketing and pricing director at van specialist TLS Vehicle Rental, said: ‘We are challenging people to think more about funding choices.

‘If you are going to use a vehicle every day, know that you will need exactly that type of vehicle for three years and predict the nature of your business, then there are options such as contract hire.

‘But many businesses aren’t like that. If you are not sure how the market will perform in the future, or what your transport needs might be, then long-term daily rental makes sense.’

The firm is one of a growing number offering flexible funding options, where vehicles can be placed on the fleet for several months but can be handed back at any time with no early-termination penalties, giving companies more flexibility.

Welham said: ‘Fleets might want to consider the benefits of being flexible. More than in the past, van fleets are exploring their funding options in detail, particularly when it comes to being more flexible.’

TLS, part of global finance to transportation giant GE, operates a nationwide network of about 30 sites and has about 25,000 vehicles, most of them light commercial vehicles.

Last year, it launched TLS Advantage, in which fleets can hire for periods from a year to three years or more, with unlimited mileage and no fixed-term contracts or early-termination penalties, as part of a long-term overhaul at the business.

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