Fleet Advantage says it has secured lease originations totaling $107.3 million for its quarter ending Sept. 30.

Fleet Advantage says companies with transportation fleets are realizing an opportunity for increased savings in their total cost of ownership by moving their vehicles toward a shorter lifecycle. In doing so, these organizations are saving money through lower maintenance and repair costs, lower fuel expenditures, reduced emissions and lower costs associated with safety accidents, Fleet Advantage says.

The COVID-19 pandemic also had a significant impact on the industry during the company’s fiscal year, Fleet Advantage says, and in response, it began offering a sale-leaseback program designed to infuse cash and flexibility for transportation fleets.