Anyone that’s driven along a motorway recently will have been asked the question ‘is your vehicle ready for winter?’ from the LED gantry signs.
With proper servicing and a healthy dose of common sense, ensuring your car is ready for severe weather is all about being prepared.
When it comes to commercial vehicles, industrial equipment and plant, however, more challenging weather conditions, freezing temperatures and floods can expose wear and tear and service life issues that require more than a simple trip to the local mechanic.
Many companies are still recovering from the 2014 floods and, with a wet and, in some areas, snowy, start to 2015, the threat of floods and water-logged sites is once again on the radar.
For those operating vehicles and equipment across a wide variety of sectors, including farming, construction and quarrying, that means assessing whether those assets are robust enough to last another year or should be replaced or refurbished as part of contingency planning.
Just as planning your car maintenance for the winter months is a much more sensible approach than paying for repairs following a break down, planning your vehicle and/or plant strategy in advance can also help to avoid unnecessary costs and prevent business interruption issues.
For many businesses, the biggest obstacle to factoring this into business planning is cash flow, with plant refurbishment and/or vehicle replacement programmes being delayed until funds are available.
However, by working with us at Praetura Asset Finance, those funds could be available now, using existing assets to release capital from your business to purchase new ones or recondition the existing fleet.
The key to ensuring fleet-related business continuity is to monitor vehicle and/or plant efficiency and act to release funds before the need to refurbish or replace becomes critical.
There are then various options for releasing capital from your assets. You may choose to borrow on existing plant or vehicles that retain high residual value to pay for replacement or refurbishment of older equipment, or you may prefer to spend capital upfront and then borrow it back against the new or newly refurbished assets.
The important part is finding an asset finance provider that you can trust to offer you the best advice and an affordable plan with flexibility aligned to your commercial goals.
For more information on how Praetura Asset Finance can help you, call us today on 0333 323 7800.