Quick guide to fleet management
You’re looking for the best way to keep your company on the move. But the options can be overwhelming and the information available complex. That’s why we created this guide. Explaining what fleet management is, how to keep your employees’ mobile and happy on the road, while keeping hassle for you to a minimum.
What is fleet management?
Companies often rely on a fleet of vehicles to keep their employees and their business on the move. Fleet management is the way in which businesses finance, organise, track and maintain their company vehicles. There are different ways to fund and manage your fleet. The most important consideration is whether to buy or lease your fleet.
What does a fleet manager do?
A fleet manager has a wide range of tasks and expectations to manage. From determining a fleet strategy - what are the mobility needs and budget of your business? - to setting up car and fuel policies and managing repairs, maintenance and costs. Most company departments are involved to some degree and the costs can be significant.
Lease versus buy
Deciding the best financing option for your fleet can be difficult. There are two ways to fund your company fleet; buying or leasing. When you choose to buy, you are responsible for the purchase and management of the vehicles, as well as the risk of residual value and resale.
Leasing can be an easy and risk-free alternative and comes in three forms; financial lease, management only and operational lease.
Benefits of leasing
When considering buying vs leasing for your company’s fleet, minimising risk, hassle and costs are the most important factors. As almost half of the total cost of ownership (TCO) of a company car consists of depreciation costs, leasing can be a cost-effective solution.
The fleet management company takes on the risks and costs of ownership including residual value, taxes, insurance, repairs and maintenance as well as the bulk of the management and administration involved in fleet management.
How can LeasePlan help you achieve your business goals?
With over 50 years of experience helping companies in 32 countries stay mobile, our team is here to help. We can build a customised leasing solution for your company that meets your strategic goals.
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