Fleets across the country are looking into leasing contracts for some or all of their fleet vehicles in an effort to reduce fuel and maintenance costs and improve service.
The Waynesboro (Pa.) Borough Council is considering disbursing its vehicles in favor of a leased vehicles fleet to reduce maintenance costs.
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.
Fleet managers are wise to read the entire lease agreement and familiarize themselves with the terms and conditions under which they will be doing business. For it is the business side that impacts the fleet manager most.
Choosing between the two types of commercial leases involves understanding your fleet driving patterns, your internal fleet management capabilities, and your appetite for risk.
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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