New Zealand Company Vehicle asked Alistair Doyle, Regional Manager – Commercial for the UDC Finance northern region, about the financial considerations that fleet managers have at this time of year. Here is what he had to say.
“Last issue I introduced UDC’s product offerings and talked about our history. In this issue, I thought I might take you through some of the general questions, thoughts and fleet specific discussions our commercial managers have with clients around the country.
“It is still early in the financial year for most businesses, and we find that many businesses are starting to get last year’s financial results through.
“With this in mind, it is a great time to be thinking about your numbers and in turn, what they might mean for your business and your fleet.
“We hear from our clients that it is an opportune time to identify some key ratios you can use to set yourself up well for the year ahead.
“Understanding your numbers and being able to clearly communicate your story enables any lender like UDC to better assist you and your business, and it can also help with buying decisions.
“So, what sort of questions should you be asking or what can you be thinking about at this time of year that is fleet specific? Here are five considerations that our clients tell us are key for them:
1. Was your turnover last year the same, better, or worse than previous years, and why was that?
2. What did your fuel, repair and maintenance costs look like versus previous years?
3. What will the impact be of the fuel tax cuts coming off this year?
4. If your repairs and maintenance costs are up, is this a sign that you need to be putting money aside for new vehicles?
5. Have you considered EV or PHEV vehicles? What are the drivers here and what systems can you put in place to really get benefit? Perhaps better understanding your GPS data monitoring, emissions and so forth?
“Once you have a good grasp of your current situation, and you have spoken with your financial advisors, UDC is more than happy to meet with you to see what fleet finance packages we can put together to suit your business needs.
“What UDC can also do, which other lenders may not be able to, is provide you with insights into where your operation fits in the industry. We have been around for over 85 years now so we have extensive experience in and knowledge of many industries, which can be very helpful.”
Contact details for all UDC commercial managers can be found at udc.co.nz. UDC representatives are located up and down the country, so you can get in touch with your local rep who understands your region to have a chat and take it from there.
To work with a flexible finance partner who understands your business needs, UDC Finance are the people to see – at your convenience, at your business and with your business success in mind.
This article is a general market commentary and does not constitute financial advice. UDC Finance Limited lending criteria, fees, standard terms and conditions apply to any loan.
