New Ogilvie tool to help show "true" cost of operating vehicles
The firm has developed its Ogilvie True Cost product to take the principle of whole-life costs as its base and then add in crucial elements to provide customers with 'a far more accurate representation of the actual costs associated with vehicle operation'.
As well including rental figures plus the cost of fuel, Ogilvie True Cost also includes the critical cost associated with employer Class 1A National Insurance contributions and subtracts a corporation tax saving before adding back in to the calculation any applicable lease rental disallowance.
Ogilvie Fleet sales and marketing director Nick Hardy said: 'Ogilvie True Cost is now shown on every individual vehicle quotation we produce. As more of the correct data is used to calculate the Ogilvie True Cost figure, a far clearer cost of ownership is shown, resulting in a far more accurate, and often lower, representation of the net cost of contract hire.
'Ogilvie True Cost could correctly therefore show a lower, more accurate cost than a traditional whole-life cost analysis and allows a fleet manager to make a far more accurate comparison between real vehicle costs.'
He added: 'As we now detail the Ogilvie True Cost on every individual quotation we provide and on all rates books, it can be used as the key benchmarking element within our online driver quotes portal so not only is it accurate, but it's also open and visible within everything we do.
'That visibility helps fleet managers to ascertain real costs each and every time they get a quote from Ogilvie and further shows our commitment to working with our clients in an open and clear manner.'For more of the latest industry news, click here.