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‘One Size Doesn't Fit All’, Says Toomey Opticar

Mixed fleet specialists Toomey Opticar says that businesses are failing to get the best value from company car schemes by trying to run a “one size fits all” model.

It says that company car schemes present a major financial and administrative challenge, but that businesses offering the benefit to staff make life more difficult for themselves by trying to run schemes around a single funding arrangement, such as contract hire, employee car ownership (ECO) – where an employee receives a monthly sum to spend on a car of their choice, with servicing, maintenance, road tax, breakdown cover and insurance included – or a cash for car allowance, paid in lieu of a company car to employees who use their own vehicle for business.

Although choosing one option might seem to be the simplest way to run the scheme, Toomey Opticar warns that a single financial arrangement is likely to be adding significantly to what is already a sizeable overhead.

Peter Eldon, of Toomey Opticar, says: “The reality is that combining the different funding arrangements will provide the ultimate company car scheme. For a sizeable fleet, a mix of company car and cash options will allow drivers to be directed towards the funding arrangement that best suits their mileage profile, which represents the lowest cost route to company car provision for all involved.

“Running a mixed fleet scheme can be a complex task, but for businesses looking for the best possible car scheme to enhance their offering, this is the way to go.”

Toomey Opticar provides a unique online mixed fleet solution for customers, which enables the employer and the employees to maximise benefits in terms of cost, tax, administration and vehicle choice.

For more information call 01582 518181.