LightLease, a new market-leading mid-term vehicle lease solution, has been launched by leading outsourced fleet management provider Fleet Operations.
The service enables businesses to lease a broad range of vehicles, from 90 days to 12 months, bridging the gap between short-term rental and longer-term contract hire.
“We have responded to a growing market demand for a flexible leasing option that can help mobilise employees quickly, while also helping to minimise business costs,” said Jayne Pett, Sales and Marketing Director, Fleet Operations.
“If it’s not carefully controlled, short-term hire can prove expensive and can result in an unanticipated administrative burden with vehicles being regularly swapped by providers as they hit predetermined mileage or age limits. This burden can include everything from fuel card or telematics management to Benefit-in-Kind tax reporting.
“LightLease offers a strategic, and cost-effective, alternative.”
The launch of LightLease also offers drivers greater flexibility following the introduction of WLTP (World Light-duty Test Procedure), the new method of measuring car fuel economy and emissions.
“We are witnessing a great deal of apprehension and uncertainty around WLTP, with concerns that higher vehicle CO2 figures may lead to an increase in Benefit-in-Kind tax liabilities from 2020,” Pett added.
“While it remains unclear as to whether or not tax thresholds will be adjusted, LightLease offers a solution for drivers who are cautious about committing to a longer-term contract hire agreement.”