What is Grey Fleet?
Grey fleet is the term used to describe the use of private vehicles for business purposes. Grey fleet has become a vital part of the overall transport solution for many businesses and while it can bring many benefits, it can also bring challenges. Allowing employees to use their private vehicles for business purposes can make fleet management more complex.
Managing a grey fleet is very different to managing a company car fleet, there are more compliance checks needed to ensure the vehicle is adequate to be used for business purposes and there are more risks involved in this. If employees ever use their own vehicle for business purposes, you have a Duty of Care obligation that must be fulfilled. Midas can help to manage these checks for you and ensure that your grey fleet is compliant. Although grey fleet vehicles are not owned or leased by the company, the level of liability is the same as for a company vehicle, which is why these checks are so important. Checks include, insurance, MOT, service history and general vehicle condition. The company is responsible for ensuring vehicles are adequate to be used for business purposes and if not, the company may be liable. Midas takes away the hassle of dealing with these checks to ensure all grey fleet vehicles on your fleet are suitable for business purposes.
Grey fleet vehicles are owned or leased privately by the employee, whereas company vehicles are owned or leased by the company. When private vehicles are used for company business employees are able to claim for their business mileage on Midas, our system is designed to deal with both company vehicles and private vehicles to handle these claims simply and effectively.
For more information on how Midas can help your business, please contact us.