Rental contracts changing as credit crunch starts to bite
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VEHICLE AcQuismoN patterns are shifting towards low-commitment contracts, according to fleet solutions companies.
The length of van hire terms is increasing dramatically, according to TLS Vehicle Rental, with a greater number of customers on the hunt for long-term vehicles, which they can hand back at any time.
Axis Intermodal, which supplies contract hire fleets, says there is a growing lack of commitment in its market also.
"More companies are looking for one-year rolling contracts because they lack customer commitment," reveals MD Ernie Clemson.
"We are offering packages now which reflect that level of customer commitment; and we also now agree penalty charges for early return in advance, so that customers having to return vehicles early don't receive any surprises."