Switch from contract hire avoids early termination charges

Stirling Ackroyd has changed the way it is financing its 120-strong company car fleet to avoid early termination charges.

The London estate agency says that the change to Holman’s flexible finance lease service is producing fleet savings of more than £60,000 a year.

Stirling Ackroyd’s decision to switch from its previous contract hire finance solution was sparked by a need within the business for increased flexibility, while also avoiding unnecessary fleet costs such as end of contract charges and early termination fees.

The firm, which has more than 30 branches across London and the south-east, has been a Holman customer for six years.

Julian Irby, chief financial officer at Stirling Ackroyd, said: “Our relationship with Holman has developed significantly over the years.

“They listen to our concerns and needs as a business and continue to adapt and flex, providing solutions and services that can accommodate our needs, make our fleet operation as efficient as possible and save us money along the way.

“We look forward to continuing to work with them as we embark on this next growth stage.”

Holman also provides maintenance support to reduce downtime and ensure drivers, and their cars, are on the road as much as possible.

Mark Robbins, strategic account manager at Holman, said: “Not only has the transition to our innovative Buy, Drive, Service, Sell model significantly benefitted the business from a savings and profitability perspective, but it has also improved Stirling Ackroyd’s EBITDA position. In addition, the insight generated allows greater visibility of the fleet and drivers.

“Our innovative approach to fleet funding and management has helped alleviate some of the operational pinch-points Stirling Ackroyd had been experiencing.”