Fleet News

Lease companies should educate on fuel costs

Outspoken car-leasing entrepreneur, Ling Valentine, has called on lease and rental companies to show customers their predicted weekly fuel costs before they enter into a contract.

"My customers rent brand new cars from me for two years at a time, based on how many miles they will drive in the year,” Ms Ling explained.

“Therefore, it is not rocket-science for me to tell them how much they will spend on fuel."

However, the call has been met with cynicism, as Andrew Mee, pricing risk manager at Lloyds TSB Autolease explained.

“Giving a future fuel usage cost prediction at time of purchase, whilst achievable, serves only as an indication and in reality could be misleading at a time when fuel prices are rising so rapidly,” he said.

“The best advice we would give to our customers is to be sure that they fully understand the fuel consumption figures of their chosen vehicles and the potential cost implications this may have on the whole life cost of the vehicle.

"Driver education also plays a key part in helping to mange this escalating expense.”
 

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