Tag: Lifecycle Management
This is a decision that many (if not all) fleet managers have to face at some point. It may seem like a good option, given the low mileage, but holding on to a vehicle with low LTD miles may end up being more expensive than initially expected.
In order to know where fleet costs can be cut, it is essential to fully understand each vehicles’ total cost of ownership (TCO). This number is sum of all costs associated with acquiring a vehicle and keeping it operating throughout its lifecycle.
Take-home policies are a common consideration for fleet mangers of police departments, emergency services and taxi companies. There can be many benefits to keeping vehicles out on the road instead of parked in a company garage overnight, and can help employees save on both costs and time.