The Rising Costs of Having Your Own Fleet: Beyond Buying

When purchasing new vehicles for your fleet – people spend a tremendous amount of time focused on the initial cost of obtaining vehicles. Depending upon the size and type, each vehicle could cost in upwards of $25,000 – $80,000 or more. But it’s not just the initial investment that should impact the purchasing decision – it’s also the ongoing costs. You need to have a solid understanding of the cost to maintain the vehicle and your fleet.

That thought might seem excessive, but one will soon see that the costs that go into maintaining a vehicle long outlive the depreciating asset on the books and can quickly take you into the red.

So when should you be aware of vehicle maintenance costs? From the very beginning!

Do you know how much your oil changes cost? Tire rotations? Alignments? Brakes? Tires?

And let’s not forget non-scheduled services that are addressed on a per vehicle basis. All of these items can run at least a thousand dollars a year in the first year. As the fleet’s vehicles are on the road longer and the mileage goes up – so do the maintenance fees to keep them running like new!

Have you thought about insurance? This is one of the most important costs because it allows you to protect the investment you made in your fleet, but can be expensive for new fleet operations without a track record. Of course, one of the most expensive costs in managing your fleet is fuel. With the price of fuel estimated to reach $5 per gallon in the first months of summer 2012, you will soon be aware just how much it costs to manage your fleet from a fuel perspective.

There are a lot of moving parts to keep track of when investing in a vehicle. Roadnet Technologies’ vehicle routing software helps our customers manage fuel and maintenance costs through route optimization and vehicle telematics.

Using fleet metrics and data logs to help manage the service requirements of your fleet will keep your investment running at a higher level. This helps you to ensure vehicle service isn’t missed and your fleet is always running efficiently. In fact, many insurance providers now provide discounts to companies that use vehicle telematics software.

We can’t tell you how much the tires are going to cost, but the Roadnet Telematics solution can provide valuable information as to preventative maintenance that should be performed. As fuel prices continue to creep up, fleet route optimization software and vehicle telematics together can help you realize significant cost benefits by saving on miles and reducing your overall fuel spend.

If you want to learn how we can help you reduce your fleet’s vehicle costs, contact us today at info@roadnet.com to find out more about our fleet optimization solutions.

This entry was posted in Fleet Management, Gas Prices, Route Optimization, Vehicle Telematics and tagged , , , , , , , , , . Bookmark the permalink.

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