SERVICES
Open-End Leasing – Your Key to Business FlexibilityLeasing allows the business to pay for only the portion of the vehicles they use. This reduces the monthly payment when compared to financing a vehicle where you pay and finance 100% of the vehicle and pay tax on the total price.
Is Your EV Fleet Prepared for a Lithium-ion Battery Fire?When compared to gasoline and hybrid vehicles, electric cars have the lowest number of fires per 100,000 sales. Electric vehicles are powered by lithium-ion batteries and EV fires are typically related to the battery. While electric vehicle fires occur less frequently, they burn longer and hotter than other fires. This is due to a chemical reaction in the battery called thermal runaway.
BEST PRACTICES – MANAGING AN EV FLEETElectric vehicle (EV) fleet management requires a different approach compared to managing a fleet of traditional combustion engine vehicles. Here are some best practices for EV fleet management:
Managing Vehicle Lifecycles in High-Mileage ScenariosWhen it comes to football, vehicle shortages and supply chain interruptions, “The best defense is a strong offense,” says a fleet manager for the Tennant Company. The past year or two has been particularly challenging for fleet managers, so many are finding it necessary to employ a variety of tactics in order to stem losses, delays, or added costs.
Leasing vehicle fleets effectively and efficiently is simple if you follow five key leasing strategies.1. Select the right lease type and terms for your use. 2. Select the ideal vehicles to optimize total cost of ownership. 3. Time the acquisition of your vehicles to minimize costs. 4. Have an exit plan before you acquire vehicles. 5. Take advantage of the benefits leasing has to offer.
In the following video Adam Berger of Doering Fleet Management explains how he helped an organization that merged five companies and five different fleet management approaches into one cohesive fleet management strategy.
You CAN lease new or used vehicles. Leases pay for depreciation or the difference between the original purchase price and the value of the vehicle at the end of the lease.
Many companies, especially those in the trades, think they damage their vehicles too much to lease. This is completely untrue. Well-written fleet leases account for the value at the end of the lease. The ultimate goal is to plan accordingly on the front end of the lease so the company does not have any negative surprises at the end of the lease.
Fleet leases are structured based on utilization and can be written based on 10,000 miles or 50,000 annually. Leasing allows business owners to pay for the portion of the vehicles they use. This naturally reduces monthly payments compared to financing a vehicle where the intent is to build equity.
Leasing allows you to preserve capital, use it for strategic reasons, and deploy capital when opportunities present themselves allowing you to capitalize on those opportunities. Leasing also provides sales tax savings in almost every state and dramatically improved income tax benefits.
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