Making an investment in your commercial fleet vehicle system can be a worthwhile move, even when the upfront costs seem high. According to Automotive Fleet, the 2016 market assessment predicts corporate initiatives to purchase the most fuel-efficient models with plenty of safety features. Will your company be equipped to keep up with competitors?
While a new fleet of trucks or delivery cars for your business might seem like a big buy, there are many advantages that make the initial cost worthwhile:
- Improved performance
- Improved safety
- Enhanced utility
- Added comfort
- Additional convenience
These benefits not only improve your drivers’ experience and satisfaction levels, but also translate into a more quality customer experience. As your fleet performs simple tasks more efficiently, you are able to meet the needs of customers quickly with ease.
An upgrade can mean a lot of different things, from a full-scale replacement to simple add-on features. According to BusinessFleet, basic upgrades like sunroofs, sport wheels and an entertainment system can ensure your vehicles have a significantly higher return value. The extra “frills” will also be a benefit to employee drivers, adding value to their day-to-day work experience.
Whether your company needs several many new vehicles or a couple added features depends on your specific circumstances. In many cases creative, affordable solutions can be found that require a lower investment than initially predicted. Doing research on your competition, industry, and customer base is the first step towards identifying the best option.
Questions to Ask
When considering a commercial fleet upgrade, you’ll want to understand your company’s unique needs and budget constraints. Before you sign the check, ask yourself these questions:
- Should I consider add-on features, or a full fleet replacement
- What value will my new commercial fleet bring to my business?
- Can I expect increased profits because of the investment?
- Should I consider buying up-front, or financing with a lease or loan?
As a big investment, it’s important to weigh the pros and cons of financing your new equipment. Choosing a lease can enable you to keep cash flow open for greater flexibility during the payment period. Work Truck Magazine outlines some of the important things fleet managers should consider when signing a lease agreement.
If you’re considering upgrading your commercial fleet system and want to know how Tiger Leasing can help with financing, contact an experienced representative to learn more.