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How to find out when it’s the right time for a fleet vehicle replacement

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How to find out when it’s the right time for a fleet vehicle replacement

Running a successful business is more complicated than people might think. In order for your business to run well and reach its goals, you are required to stay on top of things.

There are many factors which influence your business and its success, such as its brand, appearance and service. So, in most cases, your company car is more than a means of transport, it represents your company and your brand.

This is why it’s important to replace your vehicles. When it comes to replacements and fleet management, your business needs a strategic consulting team. They are able to tell you the perfect time for a replacement.

If you are unsure of how and when the right time would be, there are fleet management consultants who can assist you.

Below are a few helpful tips to consider and guide you to find the right time to replace your fleet vehicle.

 

Is it still safe to use?

Safety is a very important factor. In order for your business to make money and to thrive, it needs vehicles which are roadworthy. Yes, you can repair your cars, but if you feel as if repairs can no longer fix the issue, then it's probably a good time to call a consultant. Keep in mind that you aren’t travelling alone, there are plenty of accidents that happen on a daily basis, so you need to be careful.

Signs that your vehicle is no longer roadworthy and needs to be replaced:

  • The brakes are no longer functioning properly, either they’re too hard or they’re too soft. That's a sign that there's an issue.
  • Or the engine has been giving you issues for a while, and you have replaced it more than once. If your vehicle needs repairs almost every month, that's a sign that a replacement is needed.

 

Do repairs really save costs, or are you wasting money?

It's understandable that as a business you would like to save money, you would prefer to fix the vehicles you have than to get a new fleet. But you need to ask yourself if you’re really saving any money.

Keep in mind that the value of a car depreciates the minute you start using it, so just because you repair it, that doesn't mean you’re saving because its value is decreasing. By the time you think of selling, the resale value will be low so it might make more sense financially to replace it rather than doing another repair.

If you’re still unsure, think about future costs. How much will you be spending on repairs compared to the costs of having a new vehicle?

 

Focus on the future of your business  

When you look at the future, do you see your business expanding? Maybe you plan on getting a few more vehicles. Also, think about whether the vehicles you have at the moment will be in good shape. If not, then that’s also a reason to replace your vehicles.

Also, keep in mind whether you will still be working with the same cargo in the future or whether you need bigger cars. If you will be working with larger loads, it would be beneficial to replace and get the cars that you will need.

 

What can fleet management consultants offer you

If you’re looking for advice on your fleet, there are plenty of fleet consulting solutions as well as consultants who are equipped to help you. These consultants will advise you on everything when it comes to fleet management.

The consulting service will assist you by analysing your company’s processing as well as operational issues. By doing this, they can determine the right time to get the most effective long-term solutions, while giving you the lowest possible operating costs.
The consulting team is equipped to determine the best time to replace your vehicles as they have the fleet management experience which is needed.

Fleet management also offers fleet disposal, which can help you achieve higher returns. Another benefit is the fleet procurement process which will help your business can get vehicles at lower prices as they have relationships with dealers and original equipped manufacturers (OEMs).

The consulting team can assist you in calculating the total cost of ownership, helping you make the most cost-effective selection.

For them to do this, they will look at:

  • How much the vehicle cost when you bought it
  • The cost of accessories required
  • Market depreciation and resale value
  • Maintenance of the vehicle
  • Tyres and fuel consumption

 

Optimal cycling point

Always find out when your optimal cycling point is because when you reach that breakeven point, you will get the highest return and the lowest total life-cycle cost. Fleet consultants can analyse when the right time for a replacement is in order for you to receive high returns.

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