Fleet News

Hybrid deal can be a flexible friend

GOING for a full-blown contract hire deal over three years might seem a bit of a leap of faith to start with – but there is a ‘quicky’ alternative if you feel scared to grasp the nettle.

While you are committed for years with a normal lease, with the threat of financial penalties if you pull out early, a hybrid lease which marries leasing and daily rental can be a flexible friend.

It is also called mid-term leasing and basically means renting a vehicle for the long term, typically in four-week chunks.

You pay for your four weeks and then if you need to hand the vehicle back, you just return it without penalty.

This type of deal particularly suits van-based fleets which have quickly-varying sizes, depending on business demand.

Many providers are able to offer this product, one of the biggest being Northgate, with its Norflex flexible rental deals. Although the firm is classed as a rental company, its average rental period is actually six months.

Companies simply sign up for vans and keep them until they wish to hand them back, without incurring extra costs (providing they have looked after them properly).

  • There are plenty of companies that now offer flexible leasing. For details go to ‘buyers’ guide’ section on this website.
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