Fleet News

Mycompanyfleet tackles end-of-contract charges

Mycompanyfleet says it has responded to fleet customers’ concerns over what it describes as excessive end-of-contract charges with a new solution which verifies the condition of fleet vehicles on an ongoing basis.

Regular feedback from fleet managers shows that they are concerned about controlling costs, and that one area of anxiety for many is the level of end-of-contract charges they face from leasing companies when cars are handed back.

To address the issue, Mycompanyfleet has launched a new online solution, Vehicle Condition Profiler, which allows fleet managers to keep in regular contact with their lease company providers over the ongoing condition of vehicles on their fleet.

It aims to eradicate end-of-contract charges taking the fleet manager by surprise, often causing friction between the fleet customer and leasing company.

Vehicle Condition Profiler allows fleet managers to send vehicle condition reports, typically 6-12 monthly, to leasing companies, matching vehicles to photographs they upload onto the system, so that the leasing company can then assess their condition and identify any which may be facing higher than expect end-of contract charges.

At the same time, the new solution also allows leasing companies themselves to log on to the system and rate the condition of the vehicles against their scale of end-of-contract charges to ensure there are no hidden surprises for fleet managers.

Business development manager Paul Jackson explained. “In our regular dialogue with our fleet customers, the issue of what many perceive to be unwarranted and excessive end-of-contract charges has been a regular cause of concern and friction between fleet managers and leasing companies.

“By using this solution, fleet managers can identify any vehicles that may be in line for end-of-contract charges and those that are not, thus removing friction and not damaging the good relationship they may have built up with their leasing provider.

“It also made perfect sense to us to get lease providers onboard as they also have a vested interest in keeping the asset in the best condition and the customer happy. It’s a win, win for both parties.”

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