Whitelaws Coaches deal a golden ticket for Forest Asset Finance
17 August 2016
Forest Asset Finance, part of the Asset Alliance Group and a specialist in bus and coach finance and leasing, has placed two new 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 arrivals join a fleet of 40 buses at the Lanarkshire company.
Whitelaws Coaches’ Managing Director Sandra Whitelaw says: “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, and part of the Asset Alliance Group.
When the terms of the operating lease expire, Whitelaws Coaches will enjoy flexibility in selecting its next step – the company 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 – and by working with Forest Asset Finance and Asset Alliance, we can be sure we’re getting a great deal, and working with professionals that deliver on their promises,” adds Whitelaw.
The ADL Enviro200s placed with Whitelaws Coaches can seat up to 41 passengers in comfort and offer excellent fuel economy, thanks to an efficient drivetrain and electric cooling. Designed with a lower overall weight than previous vehicles in the range, the Enviro200 offers clear views through its wide windows, and was selected by Whitelaws Coaches thanks to its fuel-efficient characteristics.
Established in 1973, Whitelaws Coaches provides quality coach services on local hires, UK tours and European trips, as well as operating a number of commercial local service routes throughout Lanarkshire and the surrounding areas.
One of the other four buses provided to the company under the earlier contract with Forest Asset Finance was delivered in a special gold livery, to commemorate the golden wedding anniversary of the company’s founders, George and Sandra Whitelaw.
ENDS
Note to editors:
Asset Alliance Group is redefining the way companies acquire commercial vehicles, through its brands Asset Alliance, ATE Truck and Trailer Sales, Forest Asset Finance and Total Reefer.
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.
For further information, please contact:
Andy Hemphill or Beth Laws at Garnett Keeler PR
Tel: 020 8647 4467
Email: andy.hemphill@garnettkeeler.com or beth.laws@garnettkeeler.com
AAG/025/16
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