Lifetime achievement award for Low Cost Vans founder Rod Lloyd

He has received the Freddie Aldous Lifetime Achievement award from the British Vehicle Rental & Leasing Association

Founder of one of the UK’s most successful vehicle leasing businesses Low Cost Vans (LVC Group), Rod Lloyd, has received a lifetime achievement award in recognition of his huge contribution to the sector.

Mr Lloyd, from Neath, has been presented with the Freddie Aldous Lifetime Achievement award from the British Vehicle Rental & Leasing Association (BVRLA).

Mr Lloyd established Swansea-based Low Cost Vans (LCV Group) in 1999 before selling the multi-million-pound turnover venture last year to Global Vehicle Group. He was chair of the BVRLA leasing broker board for two year up until December last year.

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As chair he helped to steer the sector through the regulatory issues raised by the mis-selling of motor finance – which was cited for him receiving the award.

Annually the BVRLA recognises his legacy by celebrating the efforts of colleagues that have shown “selfless and sustained leadership” through the support they have provided to the organisation and its work. The award is in honour of the BVRLA’s honorary life president who passed away in 2017.

Chief executive of the BVRLA, Toby Poston, said: “We recently we saw the sector firmly in the firing line as motor finance came under the regulatory and legal spotlight. That situation rolls on, but Rod Lloyd did more than any other to ensure that broker members had the support and advice they needed to get through some very dark times.

“He committed exceptional time, energy and passion to not only make the case for brokers, but to also field their calls and concerns. He made a deliberate choice to support others in the industry when he could have very easily chosen to focus on his own personal responsibilities.”

Mr Lloyd’s work with regulatory bodies and the HMRC saw leasing brokers – companies that broker funding for business contract hire and personal contract hire agreements on cars and vans – being moved out of scope.

Mr Lloyd said: “It was a scary time, to be honest. Although leasing brokers had followed all the guidance provided by the Financial Conduct Authority, everyone’s business was potentially under threat.

“As chair of the BVRLA leasing broker committee I felt it was incumbent on me to demonstrate to the various bodies that the Court of Appeal ruling on motor finance was being incorrectly applied to leasing brokers, a result eventually upheld by the Supreme Court.”

On his award, he added:“I’m hugely grateful to the BVRLA for becoming a recipient of the Freddie Aldous Award. It’s unexpected, but a real honour which I’m very proud of.”

Mr Lloyd continues to run his property business, Crownhawk Properties, whose assets include the recently refurbished Riverside House in Swansea. Following the sale of the LCV Group he is looking to provide consultancy services to the leasing sector.