Pendragon Vehicle Management started life as Jackson Leasing in 1982. That year, the Ford Sierra replaced the Cortina after 20 years on the road, sparking the trend by car manufacturers such as Ford and Vauxhall to rebrand new model introductions.
The company was acquired by Williams Holdings in 1984 and operated within the conglomerate's car division.
In 1989, the business was demerged from Williams Holdings and was established as a core division of Pendragon plc, Europe's largest motor group, which has over 250 outlets trading nationally as Stratstone, Evans Halshaw, Chatfields, Quicks, CFC, Pinewood and Quickco.
During the 1990s, the trend towards vehicle outsourcing and funding drove business rationalisation. The change in VAT on 1 August 1995, which enabled leasing businesses to reclaim the VAT payable on the purchase of cars wholly for business use for the first time, further fuelled the development of the leasing industry and consolidated Pendragon Contracts' position in the marketplace.
Pendragon Contracts developed its innovative TINS service, providing customers with access to more cost-effective European vehicle imports, acquired via its parent.
The increase in VAT from 15% to 17.5% in 1991, continued the Conservative government's tax hike, started in 1979 when VAT was increased from 8% to 15%.
In 1998, the Pendragon Group acquired CFC Solutions enabling increased online functionality and accessibility for customers and continuing to underpin its current investment in IT systems and platform infrastructure.
The introduction of the 2002 CO2 based policy affecting corporate and personal tax, led the company to develop specialist and indepth knowledge in the area of wholelife cost to reduce customers' vehicle running expenditure for the medium and long term.
In 2004, Pendragon acquired CD Bramall and in 2006, it took over Reg Vardy, with both of the leasing businesses becoming part of the contract hire operation.
In 2009, most of Pendragon Contracts' external funders exited the market faced with the challenges of the wider economic crisis. However, the business continues to operate through a broad range of funders providing comprehensive funding solutions for a raft of customer audiences, including
SMEs, mid-sized fleets and larger operations.
Pendragon Contracts remains a significant player in the FN50 and the company continues to develop a wide range of tailored, flexible solutions in corporate markets, e.g. daily and short term hire, salary sacrifice, risk and fuel management. Its experience and pedigree over the past 30 years enables it to deliver excellent value and effective leasing options for larger clients, small fleets and individuals in a wide variety of business sectors.
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