Fleet Financing

Learn how to lower the cost of fleet leasing

1. Start with a needs analysis

   Begin by completing a fleet and utilization analysis to determine the optimal number of vehicles you need in your fleet. You should have enough fit-for-purpose vehicles for your employees to do their jobs effectively, while ensuring no vehicle is under-utilized.

2. Order your vehicles from the factory

   Choosing factory ordering, rather than dealership stock, will significantly reduce your acquisition costs, leading to lower monthly lease payments.

3. Consider open-end leases

   Open-end leases are specifically designed for business use. They have no mileage limits, a more flexible wear and tear policy, and more flexible lease terms. They also improve financial ratios, keep credit lines open, convert capital expenditure into a monthly expense, and can reduce the up-front cost of sales tax.

4. Talk to the Ewald Fleet Solutions team

   The specialists here are Ewald can help you reduce your fleet leasing costs, with a focus optimizing the total lifecycle costs of each vehicle.

Learn how to choose between an open-end and close-end lease

1. Consider both options

   There are two options for leasing a fleet of vehicles: open-end leases and close-end leases. An open-end lease has more flexible terms, and your business takes on more the residual risk. You also have the opportunity to capitalize on gains at the end of the term. In a close-end lease you'll take on less risk from depreciation but you may also miss out on potential gains, and you'll be subject to more stringent terms which can add costs in the long run.

2. Evaluate your mileage needs

   Open-end leases have no mileage limits, even if your employees have a high number of travel miles. Close-end leases typically have fixed terms and mileage limits, with additional per-mile fees once the maximum has been hit.

3. Consider unexpected expenses

   Open-end leases are more accomodating of general wear and tear. With close-end leases, you'll be responsible for excess wear and tear costs.

4. Establish a lease timeline

   Open-end leases have flexible terms, and they typically convert to a month-to-month agreement after the initial 12-month term is complete. Close-end leases cover a fixed period of time, and penalties may be incurred for ending a close-end lease early.

5. Ask a fleet leasing professional

   Contact the fleet specialists here at Ewald's for advice on choosing the right leasing structure for your business.

Learn how to lease a fleet of cars, trucks or vans

1. Determine your needs

   Consider the needs of the job and get input from drivers to determine the right fit-for-purpose cars, trucks, or vans for your requirements.

2. Evaluate open end and closed end leases

   Research the differences between open end and closed end leases. Typically, open end leases are a better fit for businesses, since they offer more flexible lease terms and have no mileage limits.

3. Consider upfitting and graphics

   Vehicle graphics promote brand awareness and present a professional image to the public. Equipment such as ladder racks, shelving, and bulkheads allow employees to be safer, happier, and more effective on the job.

4. Ask an Ewald fleet management specialist

   The team at Ewald Fleet Solutions is your partner for turnkey fleet solutions. We will work with you to establish the right lease terms for your business, choose the right vehicles, and upfit them to your exact specifications before you receive them.