Benefits Of Leasing Your Fleet

Posted by sandeepw on November 14th, 2019

Every fleet manager faces the question at least once in their life which is whether to buy or lease their fleet. The decision is always yours, no one can do that for you. But if you want to take suggestions then you can ask someone for that. Leasing is just like renting a vehicle but not only for a few days, it can be for a year or more. There are also some fleet leasing companies which gives you vehicles on lease.

Two types of leases are there, one is an open-end lease and the other one is a closed-end lease. The open-end lease is when you take the lease for minimum time duration and after that, you can increase the time duration by month-to-month leasing option. After the end of the leasing agreement, you can sell the vehicles. On the other hand, the closed-end lease is the opposite, which means the time duration is fixed. You can not do any type of damage to the vehicle or exceed any mileage limit if you do anything like that, you will have to pay penalties for that. Now we will discuss the benefits of leasing vehicles.

If you calculate the monthly payment of a lease with buying a new one then you will get to know that taking a fleet on lease is more profitable. You will not have to visit the gas pumps and repair again and again as the leased vehicles are mostly new and they have fewer maintenance charges and better fuel economy.

You can switch from one vehicle to another very often as the agreements are for an average of three years. The paperwork for leasing vehicles is very few. The fleet management of the fleet leasing company will take care of all the paperwork like tax, insurance, fitness, license renewal etc.

You will be able to work with newer vehicles as the leased vehicle models are usually new vehicle models. The newer vehicles will come with better engine technologies, new features, better fuel economy and fewer maintenance charges.

These are the benefits of leasing your fleet. If you decide to lease vehicles instead of buying one then you can go to the fleet leasing companies and ask the fleet management to help you understand the benefits of leasing a vehicle in detail and after that, make your decision.