How and When to Upgrade Your Fleet for Maximum ROI

how-and-when-to-upgrade-your-fleet

Even if you do everything in your power to protect your commercial vehicles, that fleet will need to be replaced at some point. While purchasing new vehicles is going to be a major investment, there are a few steps that you can take to cut costs and improve your overall ROI. Here are some tips for how and when to upgrade your fleet for maximum ROI. 


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Wait for Bigger Sales

Waiting for a major sale is another simple tactic that could end up saving you quite a bit when it comes time to replace your fleet. Many truck dealerships regularly discount their vehicles in order to clear out their stock from previous model years, and clients often enjoy huge savings during those times. Sales happen periodically throughout the year, especially for used models, and you will need to regularly check back with them if you want to catch the next event.

Buy in Bulk

Picking up one truck or trailer at a time could end up costing you money in the long run. Dealerships love to make huge sales, and they might offer sizable discounts if you are willing to buy in bulk. In order to get the best discounts, you should contact a manager and ask about their bulk pricing. Managers are usually able to get the best deals, and most of them will be happy to speak to a business owner who is ready to place a huge order.


Recommended reading: 5 Ways to Reduce Your Business Fleet Running Costs


 

Skip the Worst Weather of the Year

Severe weather is going to impact the longevity of your vehicles, and that is why must carefully consider what time of year your fleet should be replaced. If you live in a particularly cold climate with heavy snowstorms, then you might want to wait until the roads are no longer covered in road salt. For hotter climates, business owners should think about upgrading their fleets once the weather starts to cool off.

Don’t Wait Until Your Current Fleet Is Falling Apart

One of the most common mistakes that business owners make is keeping their equipment until it is falling apart. Having one or more trucks break down could bring your business to a grinding halt, and that type of scenario must be avoided at all costs. You will also be able to get more money for your older equipment if you sell it while it is still usable.

In addition to these few tips, you should also take a close look at your company’s insurance policy before you make any purchases. Buying a new fleet could have a huge impact on your monthly premiums, and those payments might skyrocket if you aren’t careful.


Recommended reading: How Running a Green Fleet Can End Up Saving Your Business Money


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