Forest Asset Finance has funded two single-deck Alexander Dennis (ADL) Enviro200 buses with Scottish operator Whitelaws Coaches, building on an earlier deal for four of the vehicles.
Supplied on a four-year operating lease, the two new coaches join a fleet of 40 buses at the Lanarkshire company.
Whitelaws Coaches’ managing director Sandra Whitelaw said: “We’re rolling out a gradual fleet replacement programme, and this means a flexible, short-term operating lease agreement with Forest Asset Finance is the right fit for us.
“Under the contract, we get the latest in fuel-efficient buses, and we’re able to benefit from the financial balance between leasing and hire purchase. The rental fees we pay are also tax-deductible, which is certainly advantageous.”
The two new buses were provided by Forest Asset Finance’s sister company Asset Alliance – a specialist in commercial vehicle contract hire, finance, rental and leasing.
When the terms of the operating lease expire, Whitelaws Coaches can extend the existing rental agreement, return the buses to Asset Alliance, or sell the pair on behalf of the lessor, and retain a percentage of the profits.
“The flexibility provided by an operating lease agreement means we can tailor our fleet replacement and any expansion plans to better suit the market conditions,” said Whitelaw.