A new car subscription service claiming to offer a single monthly payment mobility for fleets and private motorists claims that it will help to drive the adoption of alternative fuel vehicles (AFV).
Car subscription start-up Caasta, which is backed by Green Bison Group, aims to disrupt the fleet market, in particular, by helping businesses to manage their motoring costs and cash flow through the adoption of electrified vehicles on short-term contracts.
Caasta’s monthly subscription includes: fully comprehensive insurance where required; road tax; manufacturer’s recommended servicing; maintenance and repairs; UK breakdown and accident cover; glass repair and replacement tyres (subject to fair wear and tear).
Vehicles are subject to a maximum 12-month loan and are guaranteed to not be over 12 months old or 12,000 miles.
Caasta chief executive, Mike Minahan, said: “Our aim is to offer a realistic alternative to traditional long-term finance contracts and the big upfront payments demanded by vehicle leasing providers.
“In these uncertain times the Caasta solution means one-less thing for business leaders to worry about – just add fuel or charge and leave the rest to us.
“We want to help businesses to manage their fleet and business vehicle costs with a trouble-free solution with fully insured and maintained quality vehicles wrapped up in a single monthly payment and the confidence that their maximum commitment is just 12 months.”
As well as being subject to a maximum 12-month contract, compared with typical four-year fleet contracts, Caasta allows ‘pooled mileage’ across its fleet to avoid or minimize excess mileage costs as well as a complimentary £500 damage waiver.
Businesses have the option to hand back any vehicle after the first three months with 14 days’ notice.
Caasta also offers a salary sacrifice service for the supply of Ultra Low Emission Vehicles (ULEVs) to employees as part of its commitment to encouraging and supporting the transition to low emission and electric vehicles (EV).
By choosing this option members access the benefit in kind and tax incentives with Caasta managing the procurement and administration on behalf of their employers who are simply required to make the necessary pay role changes.
Minahan said: “The Caasta model has been developed to meet the needs of today’s businesses and today’s drivers. We have already signed up a number of businesses, large and small, who are keen to experience a new flexible approach to managing their business fleets without locking themselves into a typical four-year contract.
"So they can keep their options open while meeting their immediate needs for employees to be on the road, in a fully insured and maintained vehicle while helping them to manage cash-flow with a single fixed monthly fee per vehicle.”