Contract hire remains by far the most dominant form of funding for vehicles in the UK, its combination of simplicity and all-in-one package accounting for more than half of all BVRLA members’ fleets.

And with around 90% of contract hire agreements including maintenance, the figures highlight that fleets are attracted by the fixed monthly payments which aid cashflow planning.

Contract hire numbers for cars have remained fairly static over the past five years, hovering around the 1.3 million unit level.

Only a blip in 2005 saw it rise to 1.5 million units. It is the same story for LCVs, falling slightly from 180,000 in 2004 to 176,000 last year.

  • For the full article, see the August 27th issue of Fleet News. Order a copy by calling Caroline Brown on 01733 468659