Glossary

A B C D E F I K L M O R S T V


A

ALD Net
ALD Net is the tool which vehicle pool managers can use to keep an overview of all data. All relevant information about the vehicles, such as contract details and invoices can be called up with just a few clicks and exported. This online reporting tool also offers a graphical representation of fuel consumption, fleet development, and CO2 emissions. This way, all important data concerning the vehicle pool are available around the clock.
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B

Balance sheet neutral
Since the focus is on use when leasing, the used vehicle is not capitalized in the fixed assets of the lessor. It is thus balance sheet neutral. In comparison, vehicles which are owned by the company must be capitalized on the balance sheet and are considered fixed assets. The leasing rates on the other hand can be deducted from taxes as expenses / operations expenditures.


C

caroutlet (ALD)
After the expiration of a lease agreement, ALD Automotive markets vehicles in its modern used car centers – called "caroutlets". ALD Automotive offers a large selection of high-quality and well-maintained business vehicles from the original owner at its two locations in Norderstedt and Dorfmark. Whether car, van, or transporter - you can find all brands at the caroutlets at wholesale prices.
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carmarket (ALD)
ALD carmarket is the online auction of ALD Automotive for dealers and offers high-quality leasing returns at a good price. Regular ALD carmarket auctions give dealers the possibility to stock up their selection with high-quality vehicles.
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Car Policy
The Car Policy ("business car policy") is a customer-related regulation between employer and employee. It regulates on an employee basis who has the right to which business car as well as the associated rights and duties.
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Closed account
In a closed account, the lessor charges a constant contractual monthly rate. The lessor accepts the risk of repair costs development and price increases during the contractual term.

Contract adjustment
During the term of a concluded lease agreement, necessary contract adjustments may be made due to various factors. Reasons for contract adjustments are e.g. an extension of the contract or deviations from scheduled mileages.

Credit check
A credit check is the verification of the creditworthiness of the lessee before the conclusion of the contract. In a credit check we assess the creditworthiness of the lessee and thus protect him from the risk of excessive debt. This measure serves as the basis for trusting cooperation.


D

Damage management
Damage management includes the mediation of qualified mechanics, organization of replacement vehicles, request and verification of cost estimates, hiring experts, processing invoices, and interaction with insurances. In this manner, the customer can be assured that damages are properly processed in case of an accident.
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Dissolution of lease agreement (premature)
Under certain conditions, ALD Automotive is entitled to terminate the lease agreement prematurely: lease payments are not made, violations against important contractual regulations, non-contractual use of the vehicle, loss, or total damage.
 


E

End of lease agreement
A certain contractual term is specified for every contract, e.g. 24 months or up to 60 months. After the expiration of the agreed contractual term, the vehicle must be returned to ALD Automotive.


F

Full-service leasing
Full-service leasing offers all services for vehicle pools: from financing and consulting to purchasing, maintenance, tires, fuel, insurance, damage management, vehicle tax, RBS, VOB, and online reporting all the way to marketing the vehicle.
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Fuel card
For the cash-free purchase of fuel and many other vehicle-related services such as lubricants, vehicle cleaning, or road tolls, ALD Automotive provides customers with national or international fuel cards.
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I

International vehicle pool (ALD)
With branches in 43 countries, ALD Automotive is number one in terms of geographical coverage. A clear benefit when you have an international vehicle pool. Under the motto "Think global - act local" we work with our customers globally at the corporate level and locally on site.
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K

Kilometer lease agreement
This contract variant is the most popular one. The contractual basis is the concluded term and mileage for the individual vehicle. When the contract ends, the vehicle is returned to the lessor. ALD Automotive carries the full marketing / residual value risk. If at the end of the contract, the actual mileage deviates from the originally agree mileage, any excess and shortfall mileages are settled with the lessee according to previously contractually specified cent rates. In case the vehicle exhibits damage beyond usual wear, they are settled as part of the fair vehicle assessment. This ensures that the use of the vehicle remains calculable and budgetable for the lessee. Your finance controlling will thank you.
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L

Leasing
Leasing means the medium and long term provision of economic goods for use against remuneration. The individual monthly leasing rate is determined based on individual usage wishes - contractual term and mileage. The lessee carries the respective investment risk .
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M

Mobility Services
The Mobility Services of ALD Automotive keeps customers mobile. For short- and long-term rental vehicles, ALD Automotive provides a dense station network with more than 1,000 rented stations in Germany and guaranteed high availability from car to transport vehicle (7.5 tons) as well as a wide range of brands – at top conditions.
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O

Open calculation
In open calculation, at the end of the contractual term there is a comparison of actual costs and the monthly flat rates paid over the contractual term. A corresponding settlement is reached for costs vs. revenue.

Outsourcing
Outsourcing describes the move of services and processes to an external service provider in order to increase efficiency and save costs.

Ownership
In terms of the law, ALD Automotive as the lessor is both the legal and economic owner of the vehicles.


R

Residual value contract
Corresponding to the contractual term and mileage, in this contract variant the expected calculated residual value at the end of the contractual term is defined by contract. After the end of the contract, the vehicle is sold on the market and the sales revenue compared to the contractual residual value. The lessee receives 75% of any excess revenue. The remaining 25 % of the excess revenue remain with the lessor as economic owner. If there is a subsequent contract, the remaining 25% are paid to the lessee as bonus. The lessee must compensate for any revenue shortfall. In contracts with pre-emption right, upon request of the lessor, the lessee is obligated to buy the lease object at the contractually calculated residual value. However, the lessee does not have a right to purchase the lease object. Receipt of the pre-emption statement constitutes the conclusion of a sales contract between lessor and lessee.
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"RBS"
Broadcast fee service: Upon request, ALD Automotive can also take on the management of broadcast fees: everything from registration/cancelation of vehicles subject to broadcast fees, via the timely payment of fees to ARD ZDF Deutschlandradio fee service, all the way to maintaining inventory lists and monthly reports.
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Return log
When the vehicle is picked up / returned, a return log is filled out together with the customer/user which records the state of the vehicle. During the return, all objects and documents which were included in the delivery of the vehicle are also returned.


S

Sale and Lease Back
The "Sale and Lease Back (SALB)" model means that the lessor purchases the entire existing vehicle pool of the customer and then leases it to the company. In this way, customers benefit from quick liquidity and from any additional services agreed with the lessor. The creditworthiness of the company must be clean for this.
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T

Technical service
The ALD Automotive technical service includes all inspections and maintenance work required by the manufacturer, including the required materials, wear part repairs, and legally mandated inspections.
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Total Cost of Ownership (TCO)
Total Cost of Ownership (TCO) describes the calculation of the total costs of a vehicle pools including taxes, fuel costs, insurance, repairs etc. The calculation serves to obtain a realistic assessment of actual vehicle pool costs.
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V

Valuation criteria
The brochure "Valuation criteria: the fair vehicle valuation of VMF®" is a brochure created by ALD Automotive to evaluate the damage at the time the vehicle is returned. It regulated a fair and transparent vehicle valuation at the end of the respective lease agreement and is certified.
Download: Valuation criteria: the fair vehicle valuation of VMF® (german)

Vehicle pool management
Vehicle pool management includes the complete administration, coordination, planning and management for ensuring mobility in the company. Vehicle pool management can be performed by the company itself or a third party.
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VOB service
ALD Automotive may manage cautions, violations, and fines (Verwarnungen, Ordnungswidrigkeiten und Bußgeldbescheide = VOB) at the request of their customers. Outsourcing of fine management creates internal time resources.
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