Rivals force Fortis to action

Fortis Bank has introduced an all employee car ownership plan (Aecop) after new staff that had experienced such deals at competitors demanded similar offers.

Jeanette Heydn, HR director at the financial services firm, said: "For people who want to be driving a relatively new car, it’s a perfect solution if you consider how much [money] you lose when you drive a car off a forecourt."

She added that one member of staff was able to negotiate a deal for a soft top Cabriolet that was £40 a month cheaper through the Aecop.

The plan is open to all 600 employees at Fortis Bank in the UK, who are able to choose from Audi, Ford and Renault models.

Staff can receive a contract of between 12 and 48 months through the scheme, set up by fleet provider Leasedrive, and can source quotes from a website that also handles credit approval and vehicle ordering.

At the end of the contract, staff have the option of paying the guaranteed future value of the car and retaining ownership, signing a new agreement or returning the vehicle.