Businesses should consider the ‘whole life cost’ impact of the vehicle: this includes insurance, fuel costs, and National Insurance payments.
On a group of six premium class £22,000 vehicles, Deloitte found the difference between the cheapest and most expensive was £64 a month.
£2000 saving over three years
“Over a typical three-year contract, an employer can spend £2319 more than the cheapest in the six cars we considered,” said Nigel Morris, senior manager employer solutions.
“The driver is penalised an additional £1666 for extra benefit-in-kind tax, too,” continued Morris.
Based on whole life cost criteria, a Saab 9-3 TiD was £64 per month cheaper than the most expensive, a Ford Mondeo 2.2 TDCi saloon, in the example group of vehicles. A Jaguar X-type was the second most expensive.
Morris was speaking at The Future of Fleet Conference, organised by GE Commercial Finance Fleet Services.
