Your fleet acquisition strategy is the cornerstone of your trucking business’s success. The plan that fits your business operations is contingent on many factors like your budget, available cash flow, the current interest rates, the condition of your existing fleet, growth projections as well as the availability of trucks among other considerations that may be unique to your organization. If navigating this complex landscape seems time-consuming at best or even overwhelming, there is an easier and more effective way to create and implement a solid fleet acquisition strategy – tap into the knowledge of an expert with decades of experience.
Wiers Fleet Partners understands how important a complete fleet acquisition strategy is and are here to provide expert consultation to free you up to focus on running your trucking business. Following are a few tips to consider when developing your strategy and when you’re ready, the pros at Wiers are standing by to lend a hand!
- It all starts with money. What strategy makes the best sense for your business? Cash is king as they say. Cash creates a potential for lower acquisition costs, which can equate to better depreciation and may even generate tax benefits; although it may not be a good idea to spread your accounts too thin. Financing allows you to add to your fleet while not depleting cash deposits. With financing comes a cost of borrowing that increases the overall cost of the vehicle. Many leasing options exist, including lease to own. Leasing may allow you to add better vehicles at better prices as well as the possibility of added tax benefits.
- Staying up-to-date on the regs. Fleet managers are charged with the challenging role of staying current with the safety and environmental regulations that seem to be constantly changing. These regulatory changes vary from state-to-state and cover a wide variety of fleet management issues but should be assessed in relation to the current condition and compliance of your fleet.
- Drivers’ preferences matter. Keeping your drivers happy and safe is most likely a key objective for your trucking business, especially in today’s environment where there is a shortage of drivers available. Understanding the status of your current fleet and the general preferences as well as safety considerations of your drivers while developing your fleet acquisition strategy will help your business operations in the long term.
These are a few considerations that will help guide your overall fleet acquisition strategy as well as one important decision – the decision to partner up with an experienced company like Wiers Fleet Partners. We’ve got over five decades of experience and in-depth trucking knowledge to put to work for you.