Lloyds TSB Autolease calls for fleets to count the cost

Lloyds TSB Autolease (LTSBA) has launched three handy cost calculators designed to help operators stop the squeeze on fleet costs.

Hosted online at ltsba.co.uk/cost, the number crunching fleet calculators enable users to assess their fuel, cash taker and whole life costs at the click of a button.

Developed on the back of research which shows that over half of fleet managers (52%) are under pressure to drive down costs over the next 12 months*, the calculators are designed to help customers through the financial squeeze.

Marcus Puddy, Head of Consultancy at LTSBA, says: “The calculators are not the end solution to spiralling costs, but they’re the fastest way for fleets to identify where they can begin to make significant savings.

“In the current climate, fleets are really beginning to feel the squeeze, but these online tools can quickly and easily enable fleet managers to beat their finance director to the punch when it comes to reducing costs on the balance sheet.”

Supported by a Best Practice Guide to Cost, which is free to download from the LTSBA website, fleets can read up on top tips to managing costs down and ensuring their fleet policy delivers against business needs.

Each calculator enables users to adjust the variables and re-calculate the costs based on an anticipated change in fleet policy, or enable fleet managers to play around with hypothetical scenarios.

Marcus Puddy says: “Our research shows that the majority of fleet managers think rising costs and the economic slowdown are the greatest challenges facing them over the next 12 months, but only a third currently use a whole life cost method to inform their vehicle allocation policy.

“Fuel is often cited as the biggest issue, but reducing costs in one area can lead to increases in another, so it’s important to consider all the variables.

“It’s our aim to help all our customers balance the challenges of cost, choice and responsibility. Our expertise in this area enables us to work closely with clients to analyse the numbers and develop solutions that will have a bearing on future fleet policy.”

LTSBA’s online guide to running a cost effective fleet:

Calculator: works out a fleet’s total annual carbon footprint and total annual fuel bill for petrol and diesel.

Best Practice Guide: provides tips on purchasing, fuel cards versus pay and reclaim, fuel hedging, data management, driver education and telematics.

Whole life costs

Calculator: works out the potential savings of implementing a whole life policy using the current size of fleet and average MPG figures.

Best Practice Guide: gives advice on fuel economy, tax, maintenance and servicing and insurance.

Cash takers

Calculator: calculates the average saving per employee and total annual company saving based on employee marginal tax rate, employee NIC, car allowance, mileage reimbursement rate and average mileage.

Best Practice Guide: outlines how better tax and NI efficiency of mileage payments can reduce firms’ gross taxable cash allowances without changing the net amount received by employees.

For more information on how to stop the squeeze on fleet costs, visit lloydstsbautolease.co.uk/cost