Fleeting Thoughts
Consider fleet leasing before you purchase your next armada of cars.
Do you need to purchase additional vans or cars as your business
expands-but your budget says no? Before begging your banker for a
loan, consider fleet leasing.
The benefits of fleet leasing include better rates, personalized
service for your company and extended warranty programs. Because
auto manufacturers, dealers, leasing companies and fleet management
firms are eager for your business, they'll offer deals and
training programs to help you set up your own fleet.
You don't need a bunch of vehicles? Fine. Joanne Wilkins,
manager of ARIPlus, the small-fleet division of Mount Laurel, New
Jersey-based Automotive Resources International, says business
owners can qualify for fleet-leasing benefits with just 10
cars.
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Wilkins suggests that first-timers list their driving needs
before they decide what types of cars to lease. Opt for more
economical engines and down-size company cars, or switch to
light-duty trucks, which depreciate less than cars.
Your lease will depend on your business's needs. "If
you employ [salespeople], you'll need leases with unlimited
mileage," says Wilkins, "but other [types of] drivers can
probably stay within the 15,000-mile-a-year limit most fleet leases
offer."
Talk to your financial advisor. If he or she says you're
spending too much maintaining purchased company cars, then check
out the potential savings you can get from fleet leasing. You can
find more information at www.bobit.com, www.fleet-central.com and
www.fandimag.com/home.cfm.
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| |  Fleet Facts
Consider these factors if you're
thinking about fleet leasing:
 Know how much cargo you'll have, the options
you'll need, the amount of people that'll be in your car
and how heavy the payload is.
Do you haul heavy cargo? Look for a trunk with a low
lift-over floor.
Worried about extra paperwork? Hire a fleet
management company. Your lessor may offer the service or be able to
recommend one.
Get everything in writing, especially if penalties
are charged for excess mileage and early lease termination.
Calculate the annual mileage for each company
driver.
Check past maintenance and driving records. If one of
your employees is harder on cars, consider providing a more rugged
vehicle.
Compare warranties for full or partial
coverage.
Inquire whether the fleet lessor offers 24-hour
emergency service. | | |
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Jill Amadio has reported on the automotive industry for 23
years as an editor and consultant.
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