Fleets turn to longer van rental contracts
Businesses are increasingly extending van rental contracts from 12 to 24 months, according to Liquid Fleet.
The shift is a response to higher vehicle costs and the preference for cost certainty over frequent vehicle replacement cycles.
Companies are also moving to longer rental contracts to avoid the costs of having to replace their racking/signage every 12 months as well as reduce their costs.
Meanwhile, the data also found that diesel still comprises 100% of the company’s commercial fleet despite Liquid Fleet now offering a growing number of electric options.
Martin Potter, Liquid Fleet commercial director, said: “As businesses review their fleet strategies, many recognise that extending rental contracts provides a practical way to maintain operational flexibility while managing rising vehicle costs.
“By moving to a 24-month rental term, customers can spread costs over a longer period while avoiding the impact of repeated vehicle replacement cycles such as replacing vehicle racking and signage. In the current market, that combination is proving highly attractive.”
He added: “Fleet managers are increasingly focused on extracting greater value from every vehicle while protecting their businesses from market volatility. Extending rental contracts to 24 months is becoming an important part of that strategy.”
