Renault starts contract hire
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111 Renault VI has teamed up with the Bank of Scotland's transport division to form the Renault Truck and Van Contract Hire Division.
Renault Truck Contracts will begin operating from Renault VI's Dunstable headquarters in mid-October with a staff of 15. Renault has previously only offered contract hire on an ad-hoc basis through Diamond Finance. The new service is being sold as 'the complete package"—it includes a planned maintenance programme and a range of options to match "the precise needs of the operator".
Renault estimates that more than 45% of all UK truck sales over 3.5 tonnes involve contract hire—a trend which Mike Nuttall, managing director for Renault Truck Contracts, says "will certainly continue". Nuttall says contract hire is an attractive option as it shows the fixed costs of running fleets and frees capital "for investment in revenue-earning areas of businesses". The company is now drawing up a list of approved dealers and bodybuilders through which the scheme will be administered.