CAASTA, the newly formed car subscription service owned by leasing broker Green Bison, is now extending its personal subscription service to businesses.
Caasta says the benefit of its ‘subscribe and drive’ programme is that fleets can manage cars with an all-inclusive monthly payment. The minimum term is 12 months.
In addition, Caasta is offering fleets sale and leaseback with fleet management, or a salary sacrifice scheme for ULEV cars.
Caasta chief executive Mike Minahan said:
Our aim is to offer businesses a realistic alternative to traditional long-term finance contracts and the big upfront payments demanded by vehicle leasing providers. In these uncertain times the Caasta fleet solution means one less thing for business leaders to worry about – just add fuel or charge and leave the rest to us.
The monthly subscribe and drive subscription from Caasta includes:
- fully comprehensive insurance where required;
- road tax;
- manufacturer’s recommended servicing;
- maintenance and repairs;
- UK breakdown (including at home); and
- accident cover, glass repair and replacement tyres (subject to fair wear and tear).
Caasta says it will guarantee that no vehicle is over 12 months old or 12,000 miles.
While there is no upfront membership fee, a spokesperson said that the cost of membership would be included in the monthly subscription, depending on the number of cars, whether insurance was required and the blend of cars ordered.
Sale & leaseback fleet management
In a return to rather more traditional methods of fleet management, Caasta will also be providing fleets a sale & leaseback with fleet management facility. The twist, though, is that the vehicles leased back will be under their subscribe and drive all-inclusive monthly subscription.
A further vehicle financing offering, available to small, medium and large enterprises, is salary sacrifice subscription with no minimum employee requirement. Caasta said the maximum commitment was 12 months with no deposit, no early termination fees and no hidden fees.
“The Caasta model has been developed to meet the needs of today’s businesses and today’s drivers. Businesses are keen to experience a new flexible approach to managing their business fleets without locking themselves into a typical four-year contract. So they can keep their options open while meeting their immediate needs for employees to be on the road, in a fully insured and maintained vehicle while helping them to manage cash-flow with a single fixed monthly fee per vehicle.
“Our new salary sacrifice service gives motorists access to the benefit in kind and tax savings for choosing a ULEV which would not be accessible to them unless it was an option via their current employer and we also take on the administration and liability on behalf of their employer.”
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.