All business owners know the importance of owning commercial fleet vehicles. It can help them make timely deliveries and get time critical documents around in the right time. The best thing to do I often lease the vehicles, doing so would help save resources and is easy on the budget as well.
A business which can go about buying more than ten vehicles can qualify as a commercial fleet buyer and is allotted a fleet number which allows them to benefit from all sorts of fleet programs and discounts.
If you are thinking about leasing commercial fleet vehicles, make sure you keep the following things in mind.
- You would have to up your insurance coverage. Some lenders would require you to do so because technically you become the owner of those vehicles. The best thing is to go for a blanket policy which covers both your business and the fleet vehicles as well.
- Always analyze your needs before you go ahead and purchase ten vehicles in one go. Maybe you could do with just five or six of them. Leasing so many vehicles all of a sudden can put a major strain on your finances. Especially for new startups, it’s often wise to spend small.
- Get to know the mileage limits. For every mile you go overboard you may have to pay additional charges. However, if your mileage would go over more than 50000 miles a year, it’s better to buy the commercial fleet vehicles instead of leasing them.
- Always see the difference between buying and leasing. See what would work well for you.
- Don’t be lured into paying more for down payment. Pay a nominal sum.
- Not all states may have taxation laws, but those which do, you need to be aware of that. Most of these taxes have to be paid up front.
- You need to keep an eye on the budget once you lee those vehicles. This means there’s a great deal of paper work involved. You may need to hire a professional for the job to make things easier.
Some other things to keep in mind
While the above mentioned things are important, the following would help you manage your commercial fleet vehicles better.
- What kind of vehicles would you require? Would you be just as happy with mini vans or you need to hire more sophisticated looking vehicles?
- The additional specification for each vehicles should be noted down as well. For example having an AC and a radio is a must. Plus most companies benefit from installing GPS in their vehicles.
- If you want to use vehicles for deliveries only, keep in mind that all vehicles should have ample accommodation space.
- Most leases allow you 12000 to 15000 miles. If you require more mileage make sure you mention it and take up on any offer which might help you save a few extra bucks.
- When visiting the dealership, make sure you contact the fleet manager to help you know about different vehicles and which of these would suffice for you.
For more information on commercial fleet vehicles, make sure you contact CSM Service Bodies.