Six Tips to Drive Commercial Fleet Finances

Running a fleet- both big or small- can be daunting. The idea of investing in vehicles and keeping track of your assets are a huge financial decision- one that can seem overwhelming at times. Growing and equipping your fleet with the proper vehicles and obtaining funding that works for you is possible. After all, you need funding that aligns with your company’s financial goals and you need flexible options that keep things simple.

Are you driving fleet finances forward and keeping fleet costs down?

Here are 6 tips that will help maximize your cash flow and minimize your costs.

Embrace Fixed Rate

Interest rates are rising; to keep costs down, skip floating rate leases for the time being and opt for fixed-rate interest leases instead.

Renegotiate Your Lease

Reassess your current floating rate lease with your fleet manager, which could create more capital than the expenses of a floating lease.

Leverage Tax Law

Tax laws are opening up capital in fleet leasing.

Work with industry experts to find out if your fleet structure qualifies for an immediate return.

Study Big Data

Reviewing your Big Data can be beneficial when determining your cost plan, as your fleet’s data can determine your future financial choices.

Reconsider Replacement

A consistent annual replacement cycle cuts the cost that comes with the traditional model of replacing based on age and mileage.

Use Your Tools

Find value in your current fleet through amended amortization terms, refinancing, or selling off vehicles that no longer have value to you.

If you find yourself on the brink of growth- and want to buy or lease more vehicles to add to your fleet but have questions like, ‘what is fleet financing?’ or ‘how do you finance a fleet?’ you can utilize Holman expertise to run through the basics in a transparent way so you will be able to determine different financial solutions and approaches that work best for your bottom line.

Learn more about commercial fleet financing here.