Optimizing your business
So what do fleets need to know about trailer financing to help them make better decisions?
Gaskins notes, “Trailer financing will vary depending on the type of trailer, standard dry van trailers will typically have a longer financing term than a refrigerated trailer, and fuel delivery trailers will have their own unique financing options. The key in any asset-financing model is to consider the assets operational useful life in your fleet. To truly determine the most effective financing model you need to answer these questions: How long do you intend to keep the asset?; How will you operate the asset?; and When will it be more cost effective to operate a new asset versus the old?”
Fleets should choose a provider they can count on to provide quality, reliable equipment with services that help lower their overall rental or lease cost, says Zaborowski. “New, reliable equipment is very important in this rental business. Fleets can’t afford breakdowns. That’s why we invest in new trailers every year. In fact, 50% of our fleet is five years and newer. If you’re unsure about the long-term requirement for an asset or there’s uncertainty in the marketplace, then leasing provides a great alternative to bridge the gap. You can match it up to the length of time you need it. If it’s only a short-term flex-up need or a seasonal requirement, then rental is a great program for you.”
Fleets rely on trucks for on-time delivery of products at the most efficient cost. According to Penske Truck Leasing, to do that you need fleet performance visibility, cost management and maximum uptime. The leasing company offers full-service lease and contract maintenance solutions to manage fleet transportation needs including: tractors, straight trucks, light-duty vans and trailers.