Medium-term rental is increasingly being used by fleets to offset long electric vehicle 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, according to medium-term rental company, Meridian Vehicle Solutions.
“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,” said Phil Jerome, the firm’s managing director. “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.”
He added: “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. “While we don’t offer any electric vehicles, we do have hybrids and low-CO2 and NOx petrol and diesel options available for immediate delivery, meaning that we are a fitting option for people who have opted for an EV in the longer-term.”