What to Look for when Choosing a Fleet Management Company
During times of financial uncertainty, choosing a fleet management company that can effectively support your ongoing fleet needs is a crucial step to ensure that your vehicle fleet runs smoothly with no service interruptions to your drivers and internal stakeholders, while managing your overall costs.
Some of the areas to consider when choosing the fleet management company that’s right for your business include:
- How long has the fleet management company been in business?
- How strong are they financially to support your ongoing fleet needs during times of economic uncertainty?
- Do they operate locations in the areas where your business operates?
- Does the account management team (including day to day management and remarketing) understand your local market?
Experienced and Professional Account Management Support
- Does the fleet management company offer a dedicated single point of contact to support your fleet?
- Does the account manager have the experience to support your fleet needs?
- What is the organizational structure of the fleet management company? Is it a flat structure that empowers employees to offer custom fleet offerings to enable quick decision making?
Vehicle Selection (fit for purpose and all makes and models)
- Does the fleet management/leasing company support all vehicle makes and models?
- Do they offer fit for purpose vehicle selection including fuel and maintenance cost analysis?
- Are they able to utilize all local dealers (including using ones you already maintain relationships with) for vehicle acquisition?
Upfitting Management and Consolidated Billing
- Does the fleet management company offer the ability to source upfitting/accessories required for your business (ie. shelving, tool boxes, etc.)?
- Are you able to include upfitting into the cost of the lease?
- What type of usage based depreciation structures does the fleet management company use (so you are only paying for what you use)?
- Does the fleet management company offer both open-end and true closed-end leasing? See our article on the benefits of closed end leasing during uncertain times.
Operating Cost Management
- Does the fleet management company offer online platforms to review your costs of maintaining vehicles including total cost of ownership analysis?
- Does the fleet management company offer a fuel and maintenance program including the ability to use your preferred maintenance vendors?
- Does the fleet management company offer regional remarketing support?
- How does the fleet management company represent vehicles for sale at auction?
- Does the fleet management company offer multiple channels to dispose vehicles (ie. auction, driver sales, option to purchase vehicle at end of term)?
Choosing the right fleet management company to fit your unique business needs can be a daunting task, especially during times of economic uncertainty when all companies are looking to lower operating costs. To learn more on how Jim Pattison Lease can help support your business fleet, contact us here.