How leasing can save you money
Running a private fleet can be costly. But outsourcing with Penske lowers the total costs to operate your vehicle over the vehicle's lifetime. Leasing from Penske can make managing your business costs easier and save you money. Here's how:
- Keep costs lower
- Eliminate the hidden costs of ownership
- Free up capital and keep costs predictable
- Control fuel costs
- Preventive maintenance
Keep Costs Lower
Penske's unique size and scope mean we can do more for less.
- Bulk purchasing power to source the best parts at the best prices
- A nationwide network of service locations attracting the best technicians and providing wide service coverage
- Sizable, ongoing investment in the latest technology for our shops
- Resources to offer you the finest online customer tools to manage your vehicles
- A dedicated, well-trained service staff at your disposal
Eliminate the Hidden Costs of Ownership
Fleet ownership comes with the associated expenses of overhead, towing, taxes, washing, acquiring substitute vehicles, licensing and fuel, among other hard costs.
New and ever-changing technology also keeps adding to the cost. Fleets have to deal with new engine designs, new emissions standards and new reporting requirements. With leasing, you don't have to worry about keeping up with the latest technology, because we do it for you.
Leasing can reduce maintenance and repair expenses. The longer you own a truck, the higher your maintenance and repair costs will be. This includes givens like tires, oil changes and routine inspections. A full-service lease will cover maintenance and repairs at predictable monthly costs.
Leasing eases hassles. Fleet ownership can include indirect costs and hassles, such as potential compliance issues, time lost to breakdowns, fees associated with driver training and costs associated with replacing drivers, who may leave to work with firms that have newer equipment.
Free Up Capital and Keep Costs Predictable
Full-service leasing with Penske is a cost-effective solution to fleet management. It provides a lower upfront capital investment and consistent monthly payments. In addition to having a reliable, well-maintained fleet, our customers enjoy the credit flexibility that our long-term lease provides. When you consider the cost of leasing a truck, consider the benefits of full-service leasing with Penske:
- Improved cash flow due to no down payment, no balloon payment, and your monthly payment is based on the use of the asset (not the entire asset)
- Full-service lease financing based on Penske’s buying power and higher residuals
- Single monthly lease payment that includes maintenance and upkeep costs
- No residual risk at the end of the lease because Penske handles vehicle disposal
- Fixed monthly payments to allow accurate budgeting and forecasting
Control Fuel Costs
It's a fact that 50 percent of private fleets surveyed say fuel issues are their most important challenge, according to a survey by the National Private Truck Council. Penske Truck Leasing can help you get ahead of fuel costs and improve mpg averages. A typical Penske Truck Lease customer will save three or four percent on fuel economy. If your fleet drives more than 100,000 miles a year, that can mean thousands of dollars per year in savings.
As an affiliate member of the Environmental Protection Agency's SmartWay program – a voluntary public-private partnership designed to reduce emissions and improve fuel economy – Penske Truck Leasing works with you to minimize fuel consumption. The process begins with choosing the right vehicle for the right load – and the right run.
Something as simple as choosing the right aerodynamic shape can make a big difference in mpg. Choosing a more efficient or hybrid engine can also help, as can making sure a vehicle is maintained and driven properly. Online and offline driver training, frequent preventive maintenance, and setting the proper engine speed control can also have an impact. Our fuel management team uses data to optimize vehicles and keep fuel costs where they should be, offering insights that go above and beyond.
Preventive maintenance (PM) is an important part of fleet management. Our PM program establishes a systematic schedule for inspection, repair, and maintenance, with the goal of increasing the performance and safety of your equipment.
Broken and downed equipment can prove extremely costly, with both direct and indirect costs associated with repairs and missed production. Our PM program reduces costs by ensuring tracking and compliance, improving vehicle reliability, enhancing safety, and reducing violations.