Medium-term rental used to offset EV waiting times

Meridian Vehicle Solutions says medium-term rental is increasingly being used to offset electric vehicle (EV) waiting times.

With orders for many EVs running into six months and longer, there is a market requirement for some form of cost-effective company car provision during the interim, explained Phil Jerome, managing director.

He said: “There is considerable fleet interest in EVs, powered by factors such as the 0% company car tax rate that was announced recently, improved technology offering greater range and just higher levels of general awareness.

“However, very few EVs are currently available off-the-shelf and, for most of the popular models, you are looking at considerable waiting times – long enough that daily rental or contract extensions on your existing lease might be considered prohibitive. That is where medium-term rental is scoring highly.

“If you know that your EV isn’t going to be ready until well into next year, then a six-month vehicle on medium-term rental is an attractive, cost-effective solution. We are definitely seeing interest.”

Meridian Vehicle Solutions don’t offer any EVs, but it does have hybrids and low-CO2 and NOx petrol and diesel options available.

All Meridian cars are supplied new from a franchise dealer on contracts ranging from 6-12 months.

Based in Elstree, Hertfordshire, Meridian was created in 2015 to provide short to medium-term contracts for immediate delivery to fleets whose requirement is for premium and semi-premium models for periods of 6-12 months.

All cars are supplied new and pricing is designed to be competitive when compared to longer term leasing rates.