The tool can be used for any business journey to inform the fleet manager whether a short-term rental vehicle is a cheaper option than completing the journey with a grey fleet vehicle. All the need to do is select the mileage, how much they reimburse their drivers, the type of vehicle required for the trip and the duration of the rental. The calculator does the rest.

Arval says the primary benefit of this tool is the ongoing cost savings that it can generate. Based on current Advisory Fuel Rates for reimbursing drivers, the assumption that grey fleet is a prudent choice can be a misguided one. Thanks to this free calculator, the fleet manager is able to quickly understand not just if short-term rental would be a more cost effective option, but also by how much.

The tool also highlights the Duty of Care steps that a business should take if they are going to opt for the grey fleet option. The company says that many businesses don’t factor in the cost and resource implications of checking that the employee has valid business insurance, that the vehicle is roadworthy with valid MOT certificate and road tax, and that the vehicle is fit for the business trip (from a practicality and reputation perspective).

Paul Marchment, the fleet consultant at Arval who designed the calculator, said: ‘As well as being a safer option, in a great number of cases we see that a short-term rental vehicle is a more cost effective choice than reimbursing an employee to travel in their own vehicle. Fleet managers are busy, but with this tool, we take all of the ambiguity out of the decision so that they can quickly and accurately make the right choice every time.’

He added: ‘This is one in a long line of in-house tools that we have been able to develop for customers in recent years. Our philosophy is to provide businesses with accurate information in a clear and concise format so that they can quickly model scenarios and make the most intelligent decisions to meet their business requirements.’

The rental calculator is available at: www.arval.co.uk/portal/web/guest/private-car-or-rental-vehicle