Fleet management is a job requiring professional attention. Ensuring you have a firm grip on all aspects can be difficult while running a business. In order to improve your fleet operations, consider what functions should be outsourced and what should be done in-house.
Operating a fleet of vehicles carries risk. Companies rely on humans with various levels of experience to drive responsibly and safely. The reality is the drivers are human and make mistakes.
Disposition and Remarketing: Top Strategies for Selling Fleet Vehicles and the Most Overlooked Aspect of Fleet Management
A top strategy for selling fleet vehicles starts years earlier with vehicle selection and continues with proper maintenance. Selecting the proper options, colors, and features when acquiring vehicles yields greater returns when selling vehicles at the end of their holding periods. For example, an extended cargo van costs $900 more initially. It will yield a $1,500 premium over a traditional van at resale. Picking the right model, color, and options are paramount. Maintenance, condition, and cleanliness have meaningful impact on resale as well. Properly maintaining a vehicle throughout the lifecycle will make your vehicle stand out from its peers and command a premium.
Twenty-seven percent of greenhouse gas emissions in the U.S. today come from the transportation sector. Vehicle fleets with a high environmental impact should consider their carbon footprint and institute strategies to reduce emissions. For transportation sectors large and small, evaluating business from an environmental perspective can translate into cost-savings.
Here’s a look into how you can achieve these dual goals – environmental stewardship and cost savings.
Operating a fleet internally means spending time and resources maintaining, tracking and administering the fleet. These are valuable resources that should be used to grow the organization, not manage the fleet. We hear many stories from business owners and leaders that are distracted by the challenges of managing their fleet when more pressing business issues deserve attention.
Part 1 covered vehicle qualification for sales tax exemption using a transportation company.
Next, we will discuss how to establish a transportation company and what’s required on an ongoing basis to operate a transportation company.
Does your fleet qualify as a transportation company? Save on sales tax.
Many states’ sales tax laws (including Wisconsin) exempt companies from paying sales tax on vehicles, leases, and maintenance if they use their own fleet of trucks to deliver goods to their customers. Exemptions are statutory, not loopholes, and are closely regulated but can save companies significant costs. In order to take advantage of this exemption, a company needs to create a transportation company.
Fleet wellness measures performance against benchmarks and industry best practices including cost savings, cash flow, tax, operational efficiencies, administration, driver safety, and reliability. Use this infographic to discover the 5 tenets of fleet wellness.