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Trend towards rental in van fleet sector
Page 10
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VAN FLEET operators are looking increasingly to long-term rental deals to get assets off their balance sheet and into cash reserves as the credit crunch bites, reckons TLS Vehicle Rental.
But the commercial vehicle hire firm says the trend towards hiring predates the economic downturn; and is being driven by a 'pay-asyou-go' culture.
Chief operating officer Carl D'Anunassa says it has been "planting the seed of an idea with customers" for years that rental options are more flexible and attractive for companies and this is starting to take a hold as it has done in the truck market.
He adds: "With the general loss in economic confidence, this is very attractive to a number of businesses. They are unsure what the next few months will bring, so they don't want to sign up to a three-year lease or commit to buying a vehicle at the moment."
A spokesman for the Society of Motor Manufacturers and Traders says: "It is likely to remain that way."