Flexible vehicle hire is essential to improve business efficiency and cut unnecessary costs in the long term
Read all about the benefits that flexible vehicle hire can bring
Flexible vehicle hire is an increasingly popular method for businesses who are looking to expand their fleet and ensure that their team remains on the go, especially if they need a vehicle on short notice, but some companies are overlooking this fantastic resource.
Fleet managers considering vehicle rental need to know which hire option works best for them - whether that is short-term, long-term or flexible vehicle hire. This is why we have created this guide, to highlight the benefits flexible hire can provide for your business.
Reduce or expand your fleet when needed
Fluctuations in business demand can be difficult to predict and this has become an ongoing challenge for businesses. At the peak of the UK lockdown, many companies experienced massive falls in demand, which meant vehicles weren’t being used to their full capacity. When lockdown was lifted, companies experienced an upsurge in demand, but didn’t have the vehicles to meet it.
In both circumstances, businesses needed a quick, flexible response from their fleet to match specific business requirements, while keeping costs under control; this could have been achieved through flexible vehicle hire.
At Reflex Vehicle Hire, you can hire and off-hire your vehicle to suit your business without penalties or being tied into long-term contracts.
Reduce admin and ensure compliance
Reducing breakdowns and potential accident risks is imperative for fleet managers, which is why businesses must perform regular vehicle servicing and maintenance, and keep MOTs up to date. For a lot of businesses, this additional administration can be a burden and cause for concern, especially when it comes to keeping vehicles compliant with the latest regulations; fleet maintenance can be very costly.
With flexible vehicle hire, this is not the case. When you choose a flexible vehicle hire supplier, you just operate the vehicle and they do all the paperwork and take care of servicing, as standard. What’s more, once you are an approved customer, sourcing a vehicle could take only a few hours, not days or weeks, meaning you can get your team out onto the roads without unnecessary delays, so they can bring in the revenue for your business.
Flexible hire also future proofs your fleet against increasingly tough safety and emissions regulations so you can be confident you are running a compliant fleet. As vehicles are serviced regularly, fleets can reinvest the savings from not having to manage maintenance into other areas of the business.
Choice of modern vehicles
Flexible vehicle hire offers you a great selection of vehicles which means fleet managers are always using the best solution for their business needs, with the ability to switch vehicles if need be or remove them altogether if a contract ends.
Today’s flexible rental fleets cater to a broader range of sectors than ever before, meaning infrequent or specialist jobs are not a problem. Regardless of whether you need a larger vehicle for corporate events or a smaller vehicle to get you from A to B, there are plenty of options available.
In the longer term, flexible vehicle hire will allow you to secure better contracts and complete work more efficiently, and with less hassle. You can also be sure vehicles are safe as they will feature the latest equipment and even advanced telematics systems.
No hidden costs
In this current climate, flexibility is essential to balance cash flow and ensure that businesses are not paying for assets they aren’t using.
Flexible vehicle hire offers more competitive rates than short-term vehicle hire, but still offers the same flexibility. Vehicles can just be returned when they are no longer needed, without penalties or additional charges. Being able to budget accordingly for the number of vehicles you require means you don’t have to worry about incurring additional unseen costs. If a job changes and vehicles are no longer needed, you can hand them back and reduce your costs accordingly. This makes financial forecasting and planning a lot easier.
With Reflex Vehicle Hire, all our vehicles are available on a flexible rental basis, meaning no early termination charges are applicable should you wish to off-hire a car or van earlier than expected.
Not included on your balance sheet
According to the IFRS lease accounting rules, businesses must bring all lease commitments onto their balance sheets with the exemption of contracts that are 12 months or less. Thus, businesses with short-term or flexible vehicle hires can keep assets off their balance sheets.
Keeping fleet costs off-balance sheets helps businesses to ensure that working capital is freely available for investment in core, revenue-generating business activities and not tied up in the fleet.
Flexible vehicle hire with Reflex
Reflex Vehicle Hire’s innovative flexible vehicle hire solutions combine all of these advantages to deliver the package you need to get your fleet on the road efficiently and effectively. We understand that no two organisations are the same, and with our significant experience working with a wide range of businesses across various industries, we know how to meet your specific requirements.
We also offer the best in telematics systems to provide you with the data that can drive efficiencies in your fleet and, with record fuel prices, make the most of every gallon. Get in touch with us today and we will be your committed fleet management partner.