A
Amendments
Amendments may become necessary during the term of a lease agreement as a result of a number of different factors. Reasons for lease agreement amendments include lease extensions and deviations from the kilometre allowance originally agreed.
C
Cancellation of the lease agreement
Under certain circumstances, ALD Automotive is entitled to terminate lease agreements early. The following circumstances can justify cancellation of a lease agreement: failure to pay the rental, breaches of terms of the agreement, use of the vehicle in breach of the agreement and loss or write-off of the vehicle.
Carmarket (ALD)
ALD carmarket is an online second-hand car platform operated by ALD Automotive. The platform runs online auctions to auction lease returns to authorised dealers. The platform provides complete vehicle information along with extensive visual documentation. ALD Automotive customers can also use the platform to sell cars which they own. ALD Automotive manages the process to ensure rapid and easy vehicle sales.
Car policy
The car policy is an agreement between the employer and employee that regulates who is entitled to a company car and what rights and obligations this involves.
Claims management
Claims management covers contacting qualified garages, organising replacement vehicles, requesting and checking estimates, appointing assessors, processing invoices and dealing with the insurer. Our customers know that, should a loss event occur, all aspects of their claim will be dealt with.
Cover (insurance)
The cover defines the insurance benefits provided under the insurance contract.
Credit check
The credit check assesses the creditworthiness of the lessee. The credit check is conducted before the agreement is concluded and is used by the lessor for risk assessment.
E
End of the lease agreement
A set term is specified for each lease agreement, for example 24 months or up to 60 months. The vehicle is to be returned to ALD Automotive at the end of the agreed term.
F
Fixed Rate
In fixed rate packages, the lessor invoices a set and constant charge. The lessor therefore bears the risk of increases in repair costs and prices.
Fleet management
Fleet management covers administration, coordination, planning and monitoring to ensure mobility within a company. Fleet management can be provided by the company itself or by an external provider.
Fleet cost analysis
Cost analysis examines direct costs (rental, garage, tyre and fuel costs, etc.). The fleet can then be optimised on the basis of the findings. The car policy should also be regularly reviewed in the light of the cost analysis.
Fuel card
In line with the lease agreement, ALD Automotive issues customers with a BP PLUS card and/or euroShell card for card fuel payments and a wide range of other vehicle services (for example lubricant, car wash and valeting, “vignette” temporary road tax discs, antifreeze, tolls …).
Full-service leasing
Full-service leasing offers all fleet services from finance, purchasing advice, service, tyres, refilling, insurance and claims management to online reporting. The required services are invoiced at a fixed monthly rate.
H
Handover certificate
When the vehicle is issued to the company car user, key data is recorded in the handover certificate. This includes vehicle data and documents and items received. The company car user confirms on the handover certificate that the company car has been provided as agreed. He or she must sign the handover certificate for documentation to be complete.
I
International fleet
ALD Automotive has branches in 41 different countries and is number 1 in terms of geographical coverage. This is a great advantage if you have an international fleet. “Think global - act local”: we work with our customers globally at a Group level and locally wherever they are based.
K
“Klartextbroschüre” (Plain text - The fair car evaluation)
This is an information brochure issued by ALD Automotive for vehicle return. It details out how vehicles are valued at the end of the lease agreement and creates transparency.
L
Liability insurance
Vehicle liability insurance is a statutory requirement. It is illegal for anyone to drive on a public road in Austria without such insurance cover.
Leases
There are various forms of leasing. The main lease types in the car segment are residual value leases and operating leases.
M
Maintenance
The customer has a duty to maintain the technical condition and appearance of the vehicle set out in the agreement. The service intervals specified by the manufacturer in the vehicle documentation must be complied with exactly.
Mileage/kilometre allowance
Mileage/kilometre allowance is the total number of miles/kilometres specified for the term of the lease agreement. ALD Automotive offers a maximum kilometre allowance of 180,000 kilometres for lease agreements.
Motorbezogene Versicherungssteuer (engine-related insurance tax)
Motorbezogene Versicherungssteuer is an engine-related insurance tax due for vehicles with a maximum gross vehicle weight rating of 3.5 tonnes. The rate of motorbezogene Versicherungssteuer for vehicles is based on the power (kW) of the combustion engine. Fully electric vehicles are therefore exempt from the tax.
My ALD
My ALD is an innovative web and smartphone app for drivers and fleet managers. With the app fleet managers will always have a close eye on their fleet. Additionally, the drivers of ALD Automotive benefit from handy services as for instance brand independent car configuration or the easy search for service partners. Here you can find more information.
N
Normverbrauchsabgabe charge (NoVa)
The NoVa is a one-off consumption charge due upon vehicle acquisition. It is based on the combined CO2 emissions of the vehicle and is calculated as a percentage of the (net) vehicle value. A bonus/charge system is also applied in line with the level of CO2 emissions. ALD Automotive processes NoVA payments on behalf of its customers.
O
Off-balance sheet
As the focus with operating leases is on use, the vehicle used is not reported in the fixed assets of the lessee and is therefore off-balance sheet. Vehicles owned by the company must, on the other hand, be reported as fixed assets. Rental charges can, however, be offset against tax as expenses / business expenditure.
Operating lease
With the ALD Automotive operating lease, you lease a vehicle for a predefined term and mileage and ALD Automotive bears the residual value risk. The benefits of operating leases include fixed charges, easier planning, complete deductibility and increased cash flow.
Optifleet (ALD)
ALD optifleet is an ALD Automotive tool for optimising fleet costs. It allows you to compare all vehicles and gives a comparison of total costs over the lease term for the various vehicle classes. The results are also presented in graphs.
Outsourcing
Outsourcing is the transfer of services and processes to an external service provider. Outsourcing reduces costs and enables a company to focus more on its core processes.
P
Partnerships
For repairs and tyres in particular, excellent quality is essential. ALD Automotive provides its customers with an extensive network of tyre and body partners throughout Austria.
Payment of rental
Rental is generally paid by the lessee monthly. Each monthly charge is due in advance by the first of the month. Failure to pay the rental constitutes a breach of the lease agreement and can result in termination of the agreement. In such a case, the lessor is entitled to claim damages from the lessee.
R
Record of return
When the vehicle is collected/returned, a document detailing the appearance of the vehicle is drawn up together with the customer/driver. All items and documents received with the vehicle are to be returned with the vehicle.
Replacement car for short-term use
ALD Automotive can arrange and book replacement cars for its customers in cooperation with hire care partners to ensure that your short-term mobility requirements are covered. Easy organisation and rapid mobility are clear benefits of this service.
Road Assistance
In the event of accidents, breakdown or theft, our customers can contact the ALD Automotive Road Assistance driver hotline 24 hours a days, 365 days a year throughout Europe. ALD Automotive Road Assistance provides comprehensive mobility support.
S
Sale-and-lease-back
Under the sale-and-lease-back model, the lessor acquires the customer’s entire fleet and then leases the vehicles back to the company. This gives you rapid liquidity.
T
Title
Under law, the lessor ALD Automotive is both the legal and beneficial owner of the vehicles.
Technical service
The ALD Automotive technical service covers all inspections and maintenance work required by the manufacturer, including all materials, standard repairs (wear) and statutory services.
Total cost of ownership
The total cost of ownership of a fleet include taxes, fuel costs, insurance, repairs, etc. Total cost of ownership is calculated to allow a real assessment of actual fleet costs.
V
VÖL
VÖL stands for the Verband Österreichischer Leasing-Gesellschaften, the Association of Austrian Lease Companies. The representative body for the Austrian lease sector was set up in 1983 and has 43 members, which account for around 96% of new lease business in Austria. The VÖL promotes the interests and highlights the concerns of the leasing industry and acts as a communication interface with the public.