Here you can find answers to the most frequently asked questions around Vehicle Funding and Fleet Management.
We have put together these questions to help you with any queries you might have around our products and additional services.
If you have any other questions please get in touch and one our team will be more than happily to assist you.Enquire now
This relates to a vehicle’s drivetrain and means Four Wheel Drive. It is not to be confused with FWD which usually refers to Front Wheel Drive which is a 2-wheel drive system. 4WD is typically associated with larger vehicles with off-road driving capabilities.
ADTC is an abbreviation for Anticipated Delivery Date To Customer and is the date we expect the vehicle to be available from the supplying dealer for delivery to the customer.
AFRL stands for Automated First Registration and Licencing. It is a system that was used by Motor Dealers to register new vehicles. This has been replaced with the RaV system.
An AFV is an Alternatively Fuelled Vehicle. This is usually defined as a vehicle that is powered by anything other than an Internal Combustion Engine (ICE Vehicle) running on purely petroleum based fuels (Petrol/Diesel). It includes Pure Electric Vehicles, Hybrids and Hydrogen Fuel Cell.
This relates to a vehicle’s drivetrain and stands for All Wheel Drive. It is a type of four-wheel drive (4WD) system used to give a car more traction especially when cornering and for all-weather safety. AWD is generally not designed for hard-core off-roading.
Brake Horse Power (BHP) is one of the most common ways that a vehicle’s power is measured/expressed. Horse Power is a totally arbitrary way to measure power and originally dates back to Victorian times when James Watt came up with a system to measure the effectiveness of his steam engines compared to the horses they were replacing. More often a vehicle’s power is now expressed in PS in an attempt to make BHP Metric. Many European vehicles will show 300PS or 296BHP
This is any non-cash benefit of monetary value that is provided by an employer to an employee. These benefits can also be referred to as fringe benefits or perks. As the benefits have monetary value, they are treated as taxable income. A company vehicle that can be used for private use is a good example of such a fringe benefit and the employee would pay income tax on this Benefit in Kind. The amount of tax payable is based on a number of factors including the employee’s salary and the cost, fuel type and CO2 emissions of the vehicle.
The BVRLA represents over 970 companies engaged in vehicle rental, leasing and fleet management. Our membership is responsible for a combined fleet of four million cars, vans and trucks – one-in-ten of all vehicles on UK roads.
For more information visit the BVLA website here.
CCA is an abbreviation referring to the Consumer Credit Act 1974. This Act significantly reformed the law relating to consumer credit within the UK. All vehicles supplied by Agility Fleet are covered by the Consumer Credit Act whether Regulated Agreements or Non-Regulated Agreements.
This is vehicle registration mark that usually has some significance to some person or organisation. It will often bear that organisation or person’s initials or their favourite number. Often, they can refer to the make or model of vehicle upon which it is displayed. Cherished Plates can be bought and sold and can be kept on Retention rather than being assigned to a vehicle.
Often referred to Short Term Hire (STH) this is quite simply a vehicle rental agreement which can be for a short period of time typically from 1 to 90 days. Although STH can last beyond 90 days, most longer-term rental agreements are referred to as Mini-Lease or Flexi-Lease.
A Demo Vehicle is a vehicle provided to a driver/customer for evaluation purposes and usually includes test drives. Demos are often provided directly from the manufacturer, supplying dealer or from the leasing company. Agility Fleet are able to facilitate the provision of Demos to our customers, please contact us for more assistance with this.
A DPF is a Diesel Particulate Filter and is a common component that quite often has to be replaced on vehicles with diesel engines.
DSG is an acronym for Direct Shift Gearbox and is a form of automatic transmission. It is a term used extensively by Volkswagen Audi Group (VAG).
EoC means End of Contract (or end of lease). Any charges to the customer applied following the expiration of a contract are often referred to as EoC Damage Recharges.
The Financial Conduct Authority (FCA) are a financial regulatory body in the UK. It operates independently of UK Government, and is financed by charging fees to members of the industry. Agility Fleet are governed and regulated by the FCA.
Flexible Leasing, Flexi Hire and Flexi Lease are common terms used to describe the short-term hire of vehicles but differs from Daily Rental (STH) as agreements are typically for a minimum period of 90 days. Agility Fleet offer Agility FleetFlex as our Flexi Hire product.
This relates to a vehicle’s drivetrain and means Front Wheel Drive. It is not to be confused with 4WD which usually refers to Four Wheel Drive typically associated with larger vehicles with off-road driving capabilities
The General Data Protection Regulation (GDPR) is a legal framework that sets guidelines for the collection and processing of personal information from individuals who live in the European Union which currently includes the UK.
Grey Fleet is a term used in the fleet industry to describe vehicles, that are owned privately by an employee or group of employees, that are being used for business travel purposes. This group of employee‐owned vehicles is referred to as Grey Fleet as there remains considerable grey area in terms of the employers duty of care responsibilities. Employers often overlook their responsibilities in this area or are indeed unaware of them. Agility Fleet have a sister company, Agility Risk and Compliance that are experts in this field.
ICE stands for In-Car-Entertainment whereas ICE Vehicle refers to a vehicle powered by an Internal Combustion Engine.
An Initial Payment is the first or a number of fixed contractual payments made under the terms of a Contract Hire Agreement and is typically paid before the vehicle is delivered. It is not be confused with a deposit.
A contract hire agreement is for a specific duration. If the vehicle has not been returned to the leasing company following the expiration of the initial term of the agreement and the contract hasn’t been formally extended and it is said to be in Late Hire. Where a formal extension has been agreed (typically for a minimum of three months) this is referred to as an Extended Contract.
Typically, LWB refers to the length of the wheelbase of a commercial vehicle and is literally an acronym for Long Wheel Base
The MHA is your Master Hire Agreement which will cover all of the vehicles you lease from Agility Fleet. Each individual vehicle has its own New Vehicle Schedule (NVS) which details the specific terms for that vehicle although governed by the terms of the MHA.
At Agility Fleet we use the term Mini Lease to cover the supply of an interim vehicle. It is typically a used vehicle that has reached its original contract end date or a vehicle that has been terminated early. Interim vehicles are often used for new starters when the employer wishes to wait until the employee has completed their probationary period prior to ordering a permanent vehicle for them.
The letters MY refer to the manufacturers model year designation for the vehicle. If there is a .5 following the model year this often means it is a mid-year facelift version. It should be noted that typically manufacturers model years are released prior to the calendar year to which they refer.
A NOIP means Notice of Intended Prosecution.
Non-Regulated Agreement – Contract Hire Agreements are either Regulated Agreements or Non-Regulated Agreements. Typically, a Business Contract Hire Agreement is Non-Regulated whereas a Personal Contract Hire Agreement (PCH) is a Regulated Agreement. There are however some exceptions to this. A Regulated Agreement would generally provide more protection to the hirer than a Non-Regulated Agreement.
An NVS is a New Vehicle Schedule which details each individual vehicle you have on contract hire under the terms of your Master Hire Agreement (MHA).
OLEV stands for The Office for Low Emission Vehicles which is part of the Department for Transport and the Department for Business, Energy & Industrial Strategy. OLEV works across government to support the market for ultra-low emission vehicles (ULEV) helping reduce greenhouse gas emissions and air pollution on the roads.
The OTR is the On the Road Price for a vehicle. This is different from the Recommended Retail Price (RRP) as it will usually include other costs such as PDI, delivery, number plates, vehicle excise duty and first registration fee.
A PDI is a mandatory Pre-Delivery Inspection that is undertaken by the supplying dealer prior to delivery to the customer. There is often a charge for the PDI which is added to the list price but is included in the OTR price.
A P11d is a form completed by an employer for all employees that have the use of company vehicle and sent to HMRC. The BIK paid by an employee is based on the P11d.
P11d value is another way of expressing the price of a vehicle but it will not necessarily be the price your employer (or the leasing company) actually paid for the vehicle as it does not include any discounts they may have negotiated.
PCH means Personal Contract Hire. It is similar to BCH but it a regulated agreement giving more protection to the consumer. PCH can also be used for some smaller businesses such as partnerships, LLPs and Sole Traders. There is no option to buy at the end of the contract.
A PCN is Penalty Charge Notice. For example, a speeding ticket or parking fine issued by a police force or local authority.
PCP means Personal Contract Purchase. It is similar to PCH but the hirer has the option to purchase at the end of the initial term for a figure agreed at the start of the contract.
Contract Hire Agreements are either Regulated Agreements or Non-Regulated Agreements. Typically, a Business Contract Hire Agreement is Non-Regulated whereas a Personal Contract Hire Agreement (PCH) is a Regulated Agreement. There are however some exceptions to this. A Regulated Agreement would generally provide more protection to the hirer than a Non-Regulated Agreement.
Often referred to Short Term Hire (STH) this is quite simply a vehicle rental agreement which can be for a short period of time typically from 1 to 90 days. Although STH can last beyond 90 days, most longer-term rental agreements are referred to as Mini-Lease of Flexi-Lease.
Typically, SWB refers to the length of the wheelbase of a commercial vehicle and is literally an acronym for Short Wheel Base
A Terminal Pause forms part of the payment profile of a Contract Hire Agreement and indicates that a specified number of final payments are not made. A popular example would be a 3-year agreement on a 3+33 profile. In this case the hirer pays three payments (as an Initial Payment) at month 1, followed by 33 payments month 2 to month 34 and then months 35 and 36 there is no payment as this is the Terminal Pause.
An ULEV is an Ultra Low Emissions Vehicle. This can be any electric or hybrid vehicle that emits less than 75g of carbon dioxide (CO2) per kilometre travelled.
At Agility Fleet, our team are on hand to support and guide you through your fleet and personal contract hire needs.
If you have an enquiry please call us on 01527 571 605 or email us on email@example.com
If your enquiry is related to vehicle accident or breakdown please call our 24 hours helpline 01527 571 605