IIII Hauliers taking advantage of current rock-bottom spot rental rates
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could pay more for the same vehicles on contract hire in the future if they wait to make a long-term commitment.
Fraikin managing director John Pettitt says cheap spot rates are delaying vital acquisition decisions. "If you want to make a commitment on contract hire, today's the day. You'll not see interest rates as low as this.
"In a year's time a five-year contract hire deal would be costing you between .C40-50 more per week."
Although 25% of Fraikin's 1,200-strong UK fleet operate on spot rental, Pettitt refuses to join a rental bonanza. "Everywhere you look you'll see rental companies offering low down rates. I hope mine isn't one of them. We could go out and put another 300 trucks on spot rental but we prefer to get better use of daily rates," he says.