Company cars and fleet – definition

The company car market has seen a move away from the traditional outright purchase method of procuring company cars for employees, and there are now a variety of methods of sourcing and funding cars. In some cases, employers see fit to offer several types of scheme, such as through an employee care ownership plan or contract care hire, in order to meet the needs of different members of the workforce.

Common terms related to company cars and fleet management:

Affinity company car scheme

All employee car ownership scheme (Aecop)

Cash allowance

Company car

Company car tax

Contract hire

Employee car ownership scheme (Ecop)

Fleet risk assessment

Fuel card

Outright purchase

Perk driver

Personal contract plan (PCP)