Russell Brooke has been appointed as the first ever remarketing manager at medium term rental specialist Meridian.
He has extensive experience across the remarketing and rental sectors, having been remarketing manager at Moneybarn, fleet remarketing manager at Hertz UK and vehicle remarketing manager at HPI.
Phil Jerome, managing director at Meridian explained that his company now has more than 250 cars on rental at any one time and plans to increase its overall fleet to 400 units during 2018, so needs increased remarketing expertise.
He said: “So far, we have handled most of our remarketing through a relatively small number of channels, including a group of franchise dealers and carefully selected auctions.
“However, we are now reaching a size where we require a broader and more informed approached. Russell has huge experience across the sector and we are very pleased to welcome him as part of our team.”
Meridian acts as a supplier to major leasing companies, essentially acting as a sub contractor offering semi-prestige and prestige vehicles on a 3-6 month basis. Pricing is slightly higher than a standard three or four year lease but much cheaper than daily rental.
Russell said: “Meridian’s business model provides an ongoing stream of nearly-new cars that are well-equipped and in excellent condition, so there is high level of potential demand. We are already starting to have conversations with a wide range of disposal channels, ready to handle the increased stock levels that we expect to see throughout 2018.”
About Meridian Vehicle Solutions
Based in Elstree, Hertfordshire, Meridian was created in 2016 to provide short to medium term contracts for immediate delivery to fleets whose requirement is for premium and semi-premium models for periods of fewer than six months. All cars are supplied new and pricing is designed to be competitive when compared to longer term leasing rates.