Case Study: Expanding recovery truck fleet financed through Hire Purchase agreement

ALS Autocare Ltd is an established MOT, Servicing and Vehicle Recovery provider based in Carlisle. The business offers a range of services including 24-hour vehicle recovery across the Lake District and Cumbria.

New fleet additions

ALS Autocare recently signed new contracts with leading national recovery companies, meaning they are on hand to recover their customers if they break down in the Lake District and Cumbria. As well as this, the business has customers they need to be on standby for in case of vehicle breakdowns.

As a result of this growth in business, ALS Autocare Ltd needed to expand their fleet by purchasing two new vehicles; MAN TGL 12.250 tilt and slide recovery trucks. These heavy-duty recovery trucks were just what the business needed to help fulfil their new contracts.

To fund the purchase of the two new recovery trucks, the Director of ALS Autocare Ltd, Barrie Thomson approached Alan Gibson,

Area Sales Manager, Close Brothers Asset Finance for a funding solution.

A suitable agreement

Alan worked with Barrie to understand the business and its requirements and put together a comprehensive agreement which utilised a Hire Purchase agreement. By using Hire Purchase, ALS Autocare Ltd could spread the cost of the new recovery trucks into manageable instalments to suit their cash flow.

As a result of the new finance agreement, ALS Autocare Ltd has been able to acquire the two new recovery trucks to fulfil their leading national recovery companies contracts.

Alan commented: “Helping our customers achieve their expansion goals is one of the great pleasures I have within my role. In this case I got the chance to work with Barrie and his team at ALS Autocare Ltd to fund the new recovery trucks through an affordable Hire Purchase agreement. I look forward to working with Barrie again in the future.”

“I’ve never been a fan of finance or finance companies but Alan and the team at Close Brothers Asset Finance are different; they provide a friendly service and take a real interest in my business and its development. This agreement for the new recovery trucks was a great success and it has meant we can now fulfil our new contracts. I wouldn’t look to go to another provider if I required finance in the future.”

Barrie Thomson, Director of ALS Autocare Ltd