The Los Angeles Police Department is leasing its 100 BMW i3 battery-electric hatchbacks through a local BMW dealership, following a competitive bidding process that didn't include Tesla Motors, even though the department tested the Model S as a possible police vehicle.
The St. George (Utah) Police Department is spending $1.6 million to lease 35 Ford Police Interceptor Utility vehicles over a four-year term to replace its fleet of aging patrol cruisers.
Choosing a leasing instrument during the procurement process is a vital aspect of fleet management that requires consideration of costs, utilization, and remarketing scenarios.
Government fleets spurred by historically low interest rates have been turning to a wider range of leasing and financing instruments to replace aging vehicles.
The USPS stated it's interested in leasing, with the option to buy, minivans, cargo vans, and high-roof cargo vans for a maximum of three years.
What Fleet Issues Keep You Up at Night?
Choosing between the two types of commercial leases involves understanding your fleet driving patterns, your internal fleet management capabilities, and your appetite for risk.
For many fleet managers, the closed-end lease means everything is “fixed.” However, this isn’t always the case.
Not only will the market share for the closed-end lease grow, but so will its impact on fleet. A desire for predictable budgeted payments and fewer surprises at resale has prompted a renewed interest in the closed-end lease.
Deciding whether to lease or own company-provided vehicles can seem a daunting task. Knowing the basic concepts helps.
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