Whois & Analysis for arval.com

Vehicle leasing is the leasing (or the use of) a motor vehicle for a fixed period of time at an agreed amount of money for the lease.

It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.

The key difference in a lease is that after the primary term (usually 2, 3 or 4 years) the vehicle has to either be returned to the leasing company or purchased for the residual value.

Fleet management includes commercial motor vehicles such as cars, aircraft (planes, helicopters etc), ships, vans and trucks, as well as rail cars.

Fleet (vehicle) management can include a range of functions, such as vehicle financing, vehicle maintenance, vehicle telematics (tracking and diagnostics), driver management, speed management, fuel management and health and safety management.

Fleet Management is a function which allows companies which rely on transportation in business to remove or minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs, providing 100% compliance with government legislation (duty of care) and many more.

These functions can be dealt with by either an in-house fleet-management department or an outsourced fleet-management provider.

According to market research from the independent analyst firm Berg Insight, the number of fleet management units deployed in commercial fleets in Europe will grow from 3.05 million units at the end of 2012 to 6.40 million in 2017.

Even though the overall penetration level is just a few percent, some segments such as road transport will attain adoption rates above 31 percent.