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ELD Mandate – What should Fleets expect?

Sep 30, 2020 | Posted in News

 

The Canadian Transportation Ministry has mandated that, by June 12, 2021, ELDs (or electronic logging devices) will have to be used by all drivers that are currently required to maintain a logbook. An ELD is defined by Transport Canada as “a certified device that automatically records a driver’s driving time and facilitates the recording of the driver’s record of duty status.” The actual duty status rules are unchanged – the mandate only reinforces compliance that all paper logs are to be replaced with an automated logging system. Many fleets are already equipped for full compliance with the use of a telematics system.

There are many benefits from using a certified ELD, including:

  • Automatic, accurate duty status changes based on vehicle movement & engine on/off
  • Fleet managers’ use of a centralized software to gain real-time visibility into all drivers’ duty statuses, including drivers nearing or already in violation
  • Minimize driver fatigue, improve road safety, and ensure lawful compliance; use of an on-screen display to show inspectors at roadside checks
  • Paperless DVIRs (driver vehicle inspection reports): track pre and post trip vehicle inspections with driver signoff & photos, and speed up repairs / maintenance dispatching
  • Easy ELD installs: plug & play installation allows a vehicle to be set up in less than 15 minutes
  • Added benefits of telematics (if embedded into the ELD), such as live vehicle location tracking, historical tracking, harsh driving behaviours, seat belt compliance, speeding, idling, route optimization to name a few

Summary
With the mandate’s hard switchover date fast approaching, many fleets are looking to implement a reliable ELD system in their vehicles. To learn more about ELD and how your fleet can be prepared, contact us today for a demo and review of your fleet.

Note: Content provided in this blog is based on currently available information and may be subject to change. For up to date information, visit the Transport Canada website.

 

Can a Vehicle Sale/Leaseback Help my Business?

Jul 09, 2020 | Posted in Jim Pattison Lease

Definition

Vehicle Sale/Leaseback – A sale/leaseback is a service where a fleet management company purchases your company vehicles for a pre-determined amount and leases it back to your company. Sale/leasebacks can be done with either company owned vehicles or vehicles that are currently leased or financed through another lessor/lender.

Overview

These days, managing cash flow and releasing cash back into your business are important steps in the sustainability and growth of your business. A sale/leaseback can be a valuable option for fleets of all sizes to help improve cash flow while lowering total fleet operating costs.

Some of the benefits of a sale/leaseback include:

  • A sale/leaseback can release capital back into your business. If vehicles are owned, tapping into the fleet as a source of cash is the most common reason companies consider selling their fleet and leasing it back.
  • Consolidate to one fleet management partner for all your vehicle needs.
  • Take advantage of services fleet management companies offer including vehicle acquisition, fuel management, maintenance management, analytics, and vehicle licencing.
  • Utilize a fleet management company’s expertise with effective vehicle cycling/remarketing. Click here to learn more about best practices on vehicle cycling
  • Potential reduction in income taxes and improved balance sheet performance.
  • Ability to potentially secure or utilize other credit lines for business operations and growth.

Summary

While a sale/leaseback can be a valuable option to help improve cash flow and reduce overall fleet operating costs, it might not be the right solution for all vehicle fleets. To learn more about sale/leasebacks or other services that can help you better manage your fleet of vehicles safely and cost-effectively, contact us today.

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During this time, our team continues to be available to fully support your business fleet needs remotely and our pre-owned vehicle sales locations are available by appointment only.
For details on our COVID-19 safety protocols, click here.

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