Truck and vehicle hire(FML)

Full Maintenance Leasing (FML) provides a comprehensive financial and maintenance package for businesses and private individuals that require the use of a vehicle or number of vehicles for various purposes, but do not want to take ownership, the risk of maintaining or disposing of the vehicle/s.

FML allows you the use of a vehicle at a fixed monthly rental (subject to change as interest rates fluctuate) for an agreed term after which the vehicle is returned to us. You are not at risk or inconvenienced at the end of the contract as the vehicle is returned and sold by us, provided that the contract parameters have been adhered to and that there is no need for repairs to the vehicle which are not deemed as fair wear and tear.

Benefits

• There is no risk of disposing off the vehicle at the end of the contract.
• Optional full scale branding reflecting your corporate colors and identity.
• There is no risk of unexpected expenditure on services and maintenance.
• We acquire vehicles at a discounted rate through our pooled buying power via our network of suppliers and the savings result in a lower monthly rental.
• Budgeting and forecasting are accurate as costs can be fixed for the selected period.
• FML frees capital, which would otherwise have been tied up in your fleet, for income-generating opportunities.
• Flexible agreements result in you being able to amend the period and distance of the contract if your circumstances change.
• FML rentals are fully tax deductible under company tax regulations as an operating expense.
• Monthly rentals include GST which can be claimed back if you are registered as a GST vendor.

Features

• We buy the vehicle.
• You pay a fixed monthly rental for the use of a vehicle.
• The rental is calculated taking into consideration the expected distance that the vehicle will travel over the contract period and the market value of the vehicle at the end of the contract (residual value).
• FML rentals also include a maintenance portion based on distance travelled and the contract period
• Vehicles have to be comprehensively insured by Us.

Operating Rental

An Operating Rental is in essence an FML, however, with this option you take on the responsibility of maintaining the vehicle according to manufacturer standards.