Strictly adhered to processes are critical to controlling costs otherwise they will be wasting money without really understanding how.

We recommend companies must:

• Define vehicle selection criteria – utilise Whole Life Costings;
• Carefully select funding method and provider;
• Define ‘in-life management routines’  – making sure running costs are under control and that drivers are monitored;
• Set up and end of life management process – how vehicles are disposed of and replaced;
• Establish management information and controls.

Click here for our guide on How to fund your company cars

Peter Hollinshead is director and owner of FleetSAVE which works across all aspects of fleet management and funding. He was formerly the MD of HSBC Vechicle Finance.