Penske Truck Leasing provides a range of services, including helping customers spec the right vehicles and maintaining them throughout the life of the lease. Here are a few of the ways a full-service lease helps companies minimize risk.
Control Costs
Leasing provides a lower upfront capital investment and predictable monthly payments, which ensures there are no surprises that negatively impact your budget.
Along with greater predictability, leasing provides increased visibility into overall life cycle cost. Hidden costs are hard to measure, but they can make a difference. Knowing everything that is included allows you to make more informed forecasting decisions. Leasing also frees up capital for use in a company’s core business.
Improve Safety
As part of an overall transportation solution, Penske provides a comprehensive maintenance approach throughout the term of the lease. A rigorous preventive maintenance program ensures that the equipment is reliable and doing the job it is intended to perform, from the vehicle’s in-service date until the end of the lease. That, in turn, helps you attract qualified drivers, promotes your brand, increases customer satisfaction and improves safety.
Safety also protects the brand, reduces reputational risk and can limit liability. If you don’t have a full-service maintenance operation covering your equipment, you’re exposing yourself to potential litigation liabilities. When you have a reputable third-party provider maintaining the equipment and documenting every repair, you have something of substance to fall back on.
To ensure your entire fleet is optimized and running safely and efficiently, Penske offers comprehensive maintenance programs for customer-owned vehicles that still have a remaining useful life.
Increase Uptime
If today’s high-tech vehicles are not properly maintained, a carrier or private fleet operator runs a higher risk of vehicle breakdowns, incidents or accidents. At a minimum, improper maintenance can result in missed customer deliveries and may tarnish your reputation. If left uncorrected, the consequences can be significant, including reductions in customer loyalty and associated economic drains on cash flow and growth revenue.
In reality, even the best-maintained vehicle may need service or repair while on the road. Penske, through its dedicated, company-owned 24/7 roadside assistance group, provides hands-on experts to communicate with your driver as well as update your management team throughout the process until your driver and equipment are rolling again. In instances where the vehicle is temporarily inoperable, Penske provides a comparable substitute vehicle from its fleet of late-model units to minimize any disruptions to service.
If a replacement vehicle is necessary, the speed of delivery is crucial. A prompt response not only increases driver satisfaction but also ensures that the load is not late for deliveries. Without the lease and replacement vehicles, the company would have to maintain backup equipment, which would add cost.
Protect CSA Scores
Over 2 million commercial motor vehicle inspections are conducted every year throughout North America, the Federal Motor Carrier Safety Administration reported. A well-maintained vehicle minimizes the risk of a violation at a roadside inspection. This helps companies maintain their scores as part of the FMCSA’s Compliance, Safety, Accountability (CSA) program, which calculates fleets’ safety ratings and determines which fleets warrant intervention.
Not only is an intervention time consuming and potentially costly, a portion of CSA data is public and can be viewed by customers, shippers and potential employees.
CSA scores are becoming more important to drivers as inspections now follow drivers for three years as part of the FMCSA’s Pre-Employment Screening Program. While a number of violations ultimately come down to the driver’s responsibility, some are dependent on the carriers and private fleet operators, which is making some drivers more selective about who they will work for. Private fleet operators with the best maintenance ratings are more likely to attract qualified drivers while simultaneously improving their CSA scores.
Obtain the Correct Equipment
To optimize operations and efficiency, it is important to spec the right vehicle for the application.
Penske Truck Leasing will sit down with you to examine historical data and understand routes, capacity, drivers and freight, ensuring everything is covered. With the facts in hand, Penske works with original equipment manufacturers (OEMs) to build vehicles for optimal performance and fuel efficiency that meet your exact needs. Penske has the experience and expertise in multiple industries to find the right equipment for the job.
Full-service leasing also provides flexibility in the number of vehicles a company keeps. Whether it’s new customers and unexpected growth, or just your busy season, you can easily and cost-effectively supplement your fleet with our rental trucks. Penske lease and contract maintenance customers enjoy discounted rates on Penske truck rentals.
Penske proactively supports you when you experience changes in your operations or increased customer demand.
Stay Compliant
Penske also monitors regulations, which helps ensure the equipment you are running is in compliance with state and federal and state regulations.
Focus on Your Core Competency
If your business is like many others, transportation is not your core focus. Utilizing a lease helps you minimize the amount of time you spend managing and monitoring the transportation side of the business. Let Penske Truck Leasing do what it does best: take care of your fleet.
