4.9 out of 5 27,533 reviews

Mon to Fri: | Sat:

Whole Life Cost

Select Fleet Solutions offers a range of services designed to make living with your fleet of vehicles both cost-effective and hassle-free.

That includes Fleet Auditing, Salary Sacrifice guidance and advice, Sale and Leaseback assistance, as well as full Fleet Management.

And we can also calculate the ‘Whole Life Cost’ associated with your fleet lease - enabling you to significantly reduce your spend in the long run.

That remains true whether you’re running a large fleet with hundreds of vehicles, or you’re operating just a handful.

Calculate Whole Life Costs - and save money

It is crucial, when looking at vehicle price, to consider every cost that will be incurred, not just the monthly lease rental, or the purchase price.

There are a host of other elements to consider:

  • Any additional servicing and maintenance.
  • The cost of fuel, and to consider the implications of a more fuel-efficient electrified fleet of vehicles.
  • Corporation tax relief
  • Class 1A National Insurance
  • VAT recovery, which may enable you to reclaim 50% of the VAT charged on lease rental payments, whether or not they’re used for private use. You can also reclaim separately for the maintenance of the vehicles.

All of the above may unlock potential savings by choosing vehicles with a potentially higher lease cost or purchase price. Our Select Fleet Solutions specialists can talk you through your options.

Whole Life Costs and electrified vehicles

Known as Whole Life Cost, or ‘Total Cost of Ownership’, this is particularly important when considering Electric or Plug-in Hybrid Electric Vehicles, which may carry a higher monthly lease rental, but deliver far greater tax efficiencies and lower running and fuel costs.

Select Fleet Solutions can reveal the true running cost of all of the vehicles that might be on your wishlist - whether they’re traditionally-fuelled, a hybrid or full-electric - to ensure you optimise the selections available to your drivers and maximise efficiencies wherever they present themselves.

In many cases, using this approach, we are able to offer better cars for our customers, but at lower running costs. It’s a win-win for businesses.

Whole Life Cost Frequently Asked Questions

The Whole Life Cost of a vehicle fleet takes into account a range of costs above and beyond just the monthly leasing fee. It gives you a much more comprehensive overview of the advantages and disadvantages of a wide range of fleet vehicles.

Whole Life Cost considers the tax implications, National Insurance, fuel consumption, CO2 emissions, as well as the price of servicing and maintenance.

Knowing the Whole Life Cost of a fleet vehicle can enable you to identify ways in which you can make huge savings over the course of a lease contract. For example, while one vehicle option might offer a lower monthly fee, the Whole Life Cost might actually be much higher than an alternative vehicle. We can arm you with all the facts so that you can make a better-informed decision.

It’s good to know precisely what you’re signing up to when you choose a vehicle fleet. And our Select Fleet Solutions specialists may be able to identify crucial cost savings that you haven’t yet considered. This is particularly important when identifying the Whole Life Cost of state-of-the-art, modern electric vehicles.

Calculating the Whole Life Cost of a vehicle can be enormously beneficial for employees, and it can help with a business’ recruitment, too. An upmarket, and seemingly unattainable, vehicle might actually be a wise choice if it has lower running costs, in terms of fuel, tax and National Insurance Contributions.

Want to know more about our fleet solutions? Get in touch now with our fleet solutions team on our dedicated phone number 0118 304 8690 or simply email them at corporatefleet@selectfleetsolutions.co.uk.

Fleet Management

We make fleet management as simple as can be with the right solutions to support your business's needs.

Learn More

Fleet Finance Options

It’s important to choose the right vehicle finance method to suit your business. With the wide range of choices available and the everchanging tax rules, it is quite a lot to consider.

Learn More

Electrify Your Fleet

More and more businesses are plugging in and running electric vehicles on their business fleet. There’s plenty reasons why you should too.

Learn More

Contact us