Compass Vehicle Services Ltd Achieves Major UK Milestone

Compass Vehicle Services Ltd is celebrating 25 years of pioneering innovation in the personal and business car contract hire market.

A Remarkable 25 Years

In 1999, two long-time friends, Andy, an accountant with his own practice, and Graham, an experienced used car entrepreneur, joined forces to form CVS. They recognised that contract hire could make the dream of a new car, complete with the manufacturer’s warranty, state-of-the-art technology, and the latest safety features accessible to a wide range of customers at a total cost equivalent to that of an older, used vehicle.

Supporting Traditionally Excluded Customers

Initially, CVS operated as a general broker for both contract hire and personal contract hire. However, they soon identified a significant unfulfilled need: supplying new cars to people and businesses who traditionally could not secure mainstream financing. This included individuals with:

  • Past financial difficulties
  • Limited or no credit history
  • Traditionally “non-creditworthy” profiles

New business startups, both incorporated and unincorporated, also faced similar challenges. By specialising in contract hire for these groups, CVS has empowered countless individuals and businesses to drive brand-new cars they couldn’t otherwise access.

Adapting To Changing Consumer Behaviour

A person pointing at a car key

Description automatically generated

Today’s drivers seek more than just a new car; they require a vehicle that meets their daily needs. CVS specialises in finding the unique vehicles customers require, not just offering a generic selection. This shift in consumer behaviour has allowed CVS to excel in understanding each client’s unique needs and preferences. Whether it’s a specific make, model, or feature, CVS meticulously searches the market to uncover the perfect match.

Why Choose CVS?

Unlike many traditional brokers, CVS purchases the vehicle you want and leases it to you. This allows all underwriting to be carried out in-house by real people who care, rather than by algorithms. CVS believes in understanding individual circumstances rather than relying solely on credit scores. To make informed decisions, they consider just two main factors when assessing applications:

  1. Can you afford the payments?
  2. Is your address/employment history traceable?

This personalised approach allows CVS to be exceptionally flexible. For example, during the recent Covid lockdowns, they readily adapted to clients’ changing needs, ensuring they could keep driving even amidst challenging times.

You can find out more about Compass Vehicle Services and how to get in touch by visiting their website: www.cvsltd.co.uk.