Monthly Payments:
If you purchase, lease or rent the vehicles
there is an associated monthly payment that
goes along with that. You must ensure
that your budget can accomodate the monthly
payments for your combined fleet.
Insurance:
Auto insurance is a must in the U.S.
The minimum level of coverage that is
required varies by State.
Get the maximum amount of coverage and make
sure that you get the "Symbol 1 (Any
Auto)" coverage. Business
auto policies are written with symbols,
ranging from 1-9. Symbol 1 provides
the maximum protection and Symbol 9 provides
the least amount. Symbol 1(Any Auto)
allows you to get immediate coverage for any
new vehicle that enters your fleet, so that
all of your vehicles are always covered.
Consider getting "per-occurence"
catastrophic coverage versus "per-vehicle"
coverage. This will limit the total
amount your company will have to pay when a
single event damages several vehicles at
once.
Gas:
You have to pay for the fuel used in the
vehicles. The more driving you do the
more it will cost. If you buy fuel in
an area where the cost of fuel is usually
higher than the national average your
monthly cost will be higher.
Maintenance: The
vehicles has to be maintained. The oil
must be changed regularly and other fluids
must be replenished. Brakes get worn
out after a period of use and must bed
replaced. Damages to the vehicle must
be repaired. There is a cost
associated with this.
Registration Fees:
All vehicles must be registered in the
stated where they reside. Registration
fees varies by state. It also depends
on the type of vehicle and the age of the
vehicle. New vehicles cost more to
register than used vehicles on average.
Vehicle emission inspections is also a
requirement to get your vehicle registered
in most states. New vehicles are
usually exempt from this for the first few
years.
Fleet Manager: If you
have a fleet you need a fleet manager to
manage the fleet. Depending on how
many vehicles you have this may be a
full-time position or a part-time position.
Fleet Management Software:
The Fleet Manager needs a fleet management
software to manage the fleet. The
fleet management software could be a
one-time cost or a monthly cost depending on
how you purchase it.
Early Termination Fee:
If you have Lease Agreement you will have to
pay a termination fee if you terminate the
agreement prematurely.
Parking:
If you have a fleet you have to have a
place to park it. Depending on where
your business is located this could be an
expensive proposition.
State Taxes:
Some states have tax requirements for
leasing vehicles.
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