Should You Buy Fleet Vehicles or Lease Them?

December 21, 2020 3:15 pm

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Fleet vehicle leasing may be the option for your company. It’s definitely cost effective, convenient, and hassle free. However, do you really know which is best for your company? Should you buy fleet vehicles or lease them?

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The first major difference between buying and leasing is the expense. Leasing is typically less expensive because you aren’t making an upfront investment in the vehicles. You instead pay a monthly fee that covers the cost of maintenance, fuel, and emissions testing. Additionally, there are also other benefits, such as upgrading to a newer vehicle of your choice. When you buy fleet vehicles, you do have these worries – but you also will need to factor in storage costs and the potential for accidents. Of course, with leasing, you will have a lot of fees and potentially high insurance premiums. Whichever you choose, be sure to save on your fuel with BP Fuel Cards. Fuelcardservices provide BP Fuel Cards

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Ultimately, it comes down to how you use your vehicles and why you need them. Would purchasing cars be better for your company? What about if you aren’t actually using a lot of vehicles? Perhaps you just need a few speciality vehicles for particular trips. Whatever the case, it’s important that you know what you’re getting into so that you can get the best bang for your buck. Before you buy fleet vehicles, consider all your options.