Fleet News

Medium-term rental used to offset EV waiting times

Charge point plugged into electric car

Meridian Vehicle Solutions says medium-term rental is increasingly being used to offset electric vehicle (EV) waiting times.

With orders for many EVs running into six months and longer, there is a market requirement for some form of cost-effective company car provision during the interim, explained Phil Jerome, managing director.

He said: “There is considerable fleet interest in EVs, powered by factors such as the 0% company car tax rate that was announced recently, improved technology offering greater range and just higher levels of general awareness.

“However, very few EVs are currently available off-the-shelf and, for most of the popular models, you are looking at considerable waiting times – long enough that daily rental or contract extensions on your existing lease might be considered prohibitive. That is where medium-term rental is scoring highly.

“If you know that your EV isn’t going to be ready until well into next year, then a six-month vehicle on medium-term rental is an attractive, cost-effective solution. We are definitely seeing interest.”

Meridian Vehicle Solutions don’t offer any EVs, but it does have hybrids and low-CO2 and NOx petrol and diesel options available.

All Meridian cars are supplied new from a franchise dealer on contracts ranging from 6-12 months.

Based in Elstree, Hertfordshire, Meridian was created in 2015 to provide short to medium-term contracts for immediate delivery to fleets whose requirement is for premium and semi-premium models for periods of 6-12 months.

All cars are supplied new and pricing is designed to be competitive when compared to longer term leasing rates.

Click here for electric cars and hybrids best practice and procurement insight

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