Customer Case Studies: How Yorkshire Fleet have helped someone just like you. Our case studies are taken from real customers, and real solutions to their problems. Learn how YorkshireFleet can help you today.
Business Contract Hire (BCH) Case Study
Customer: Established Limited Company that is UK VAT Registered.
Requirement(s): On-going Replacement of a 20 vehicle fleet of cars and commercial vehicles.
Problem: The company have traditionally bought all of their cars for cash. However, they have experienced issues with the disposal of their vehicles, and find managing their own fleet very time consuming. In the past they have also experienced cash flow issues when it comes to replacing vehicles.
Solution: Yorkshire Fleet Management have worked closely with the customer to gradually switch their entire fleet to a mixture of Business Contract Hire and Business Contract Purchase agreements. This has meant that the company are running their fleet in a far more tax efficient manner, and are making significant cost savings. This process has also relieved the company’s cash flow, and has freed up valuable time within the company to concentrate on running their business.
Ongoing relationship: Yorkshire Fleet keep in regular contact with the customer through their dedicated account manager to ensure that all of their requirements are satisfied. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange replacement vehicles.
Business Contract Purchase (BCP) Case Study
Customer: Sole Trader who is VAT Registered and running 1 van for his plumbing business.
Requirement(s): He has always bought their vans using either a non-secured loan or cash. Their current van is out of warranty, and they would like to upgrade to a new one.
Problem: He is apprehensive about leasing a van because he is concerned about being charged for potential damage that may be caused removal of the vans bespoke internal and external racking systems that they installed after delivery.
Solution: Yorkshire Fleet Management have supplied the customer with a new van on a Business Contract Purchase agreement. The customer pays all of the VAT up front and claims 100% of it back on their next VAT return. At the end of the contract they can either hand the vehicle back or they can buy it for an amount determined at the start of the contract. The customer plans to buy or part exchange the van at the end of the contract.
Ongoing relationship: The customer has benefited from the Yorkshire Fleet Management referral scheme having recommended Yorkshire Fleet Management to fellow trades people in his area. Yorkshire Fleet keep in touch with their monthly email Newsletter. The customer is reassured to know that they can contact their dedicated account manager at any time. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange a replacement vehicle.
Finance Lease Case Study
Customer: Established Limited Company that is VAT Registered.
Requirement(s): They run a fleet of 30 commercial vehicles for service engineers.
Problem: The company have traditionally bought all of their commercial vehicles for cash. Whilst they have been able to use their Annual Investment Allowance (AIA) to write down £25,000 worth of vehicles by 100% in year 1, the rest of the fleet is allocated to the Plant and Machinery Pool which is only written down by 18% per annum. The vehicles continue to be written down by 18% per annum even after disposal, which is far from tax efficient.
Solution: Yorkshire Fleet Management have worked closely with the customer to gradually switch their entire fleet of commercial vehicles to Finance Lease agreements. This has meant that the company are able to offset 100% of the monthly payments against taxable profits, and are now running their fleet in a far more tax efficient manner. The company have also benefitted from Yorkshire Fleet’s fleet terms of up to 45% discount on commercial vehicles.
Ongoing relationship: Yorkshire Fleet keep in regular contact with the customer through their dedicated account manager to ensure that all of their requirements are satisfied. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange replacement vehicles.
Personal Contract Hire (PCH) Case Study
Customer: Private Individual opting out of a of the Company Car Scheme and taking a car allowance.
Requirement(s): She is looking for a new executive saloon on a 3 year contract with a low deposit.
Problem: She has run a company car for the past 15 years, and would like to opt out of the company car scheme and take a car allowance because she does not like any of the cars that are available. Opting Out would also mean that she does not have to pay Benefit In Kind (BIK) Tax. She has been into her dealership, however she is not satisfied with the discount and finance packages that they have been offered.
Solution: Yorkshire Fleet Management have supplied the customer with a new car using our fleet discount terms on a 3 year Personal Contract Hire (PCH). They were only required to pay a minimal deposit, and they have included a maintenance package which covers all of their servicing, maintenance and replacement tyres. The customer just pays for their own insurance and fuel, and everything else is covered. They have now got hassle free motoring at a fixed cost for 3 years.
Ongoing relationship: The customer would prefer to keep telephone contact to a minimum, but Yorkshire Fleet keep in touch with their monthly email Newsletter. The customer is reassured to know that they can contact their dedicated account manager at any time. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange a replacement vehicle.
Personal Contract Purchase (PCP) Case Study
Customer: Private Individual looking to purchase a new car
Requirement(s): He is looking for the most cost effective way to buy a new prestige 4WD
Problem: He has always bought his cars for cash, however he would like to consider finance options this time. He has been in to his local dealership, however he is not satisfied with the discount and finance packages that he has been offered.
Solution: Yorkshire Fleet Management have supplied the customer with a new car using our fleet discount terms on a 3 year Personal Contract Purchase (PCP). They’re only required to pay a minimal deposit. At the end of the 3 year term they can either pay the “balloon” figure (also known as the Guaranteed Future Value) to take full ownership of the car, or they can hand the vehicle back and walk away. If there is any equity in the car at the end of the 3 year term Yorkshire Fleet will be able to use this as a deposit on a replacement car.
Ongoing relationship: The customer enjoys regular contact with Yorkshire Fleet Management and has taken advantage of our Referral scheme on several occasions, having passed our details on to many of his friends, family and colleagues. The customer is reassured to know that they can contact their dedicated account manager at any time. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange a replacement vehicle.
New Start Company Case Study
Customer: 6 Month Old Limited Company.
Requirement(s): They are looking for a mid range estate car for a new salesman .
Problem: They have approached several lenders who have not been able to help because the company has only been established for 6 months and does not have a credit history.
Solution: Yorkshire Fleet Management work closely with a range of funders to offer vehicle leasing solutions for new start companies. This often involves a higher level of deposit to take some offset some of the ‘risk’. In this case, the customer was required to pay nine monthly payments in advance, however they will pay nothing for the last 9 months of the contract. The customer was able to get the car that they wanted without having to pay a premium.
Ongoing relationship: Yorkshire Fleet keep in regular contact with the customer through their dedicated account manager and as the company’s fleet size grows and they build up a credit history, they will be able to keep their deposit to a minimum on future vehicles. Yorkshire Fleet will also contact them at set points approaching the renewal of each vehicle to arrange a replacement vehicle.
