Forest Asset Finance has funded two single-deck Alexander Dennis (ADL) Enviro200 buses with Scottish operator Whitelaws Coaches, building on an earlier deal for four of the vehicles.
Supplied on a four-year operating lease, the two new coaches join a fleet of 40 buses at the Lanarkshire company.
Whitelaws Coaches’ managing director Sandra Whitelaw said: “We’re rolling out a gradual fleet replacement programme, and this means a flexible, short-term operating lease agreement with Forest Asset Finance is the right fit for us.
“Under the contract, we get the latest in fuel-efficient buses, and we’re able to benefit from the financial balance between leasing and hire purchase. The rental fees we pay are also tax-deductible, which is certainly advantageous.”
The two new buses were provided by Forest Asset Finance’s sister company Asset Alliance – a specialist in commercial vehicle contract hire, finance, rental and leasing.
When the terms of the operating lease expire, Whitelaws Coaches can extend the existing rental agreement, return the buses to Asset Alliance, or sell the pair on behalf of the lessor, and retain a percentage of the profits.
“The flexibility provided by an operating lease agreement means we can tailor our fleet replacement and any expansion plans to better suit the market conditions,” said Whitelaw.
Note to editors:
The Group occupies a unique position in the market, as it uses its own funds and significant buying power to supply multi-brand vehicles on any combination of contract hire, operating lease, finance lease or hire purchase. This flexibility, combined with a transparent and consultative approach, helps customers drive maximum efficiency from their fleets.
Asset Alliance Group also stands out for maintaining full control of residual risk through its retail arm ATE Truck and Trailer Sales, which protects customers from overly strict return conditions commonplace in the industry. Its modern workshop facilities also keep end-of-life costs to a minimum and provide the opportunity to refurbish vehicles in-house for an additional life in service.
The Group is headquartered in Wolverhampton and was founded in 2010 by Willie Paterson, former Director of Commercial Finance at Alliance & Leicester plc.
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