Managing various expenses throughout a vehicle’s lifecycle can be complex, particularly given today’s rapid evolution of Class 8 truck technology. Because such technology can create unknown maintenance expenses, fleets may find themselves saddled with outdated, difficult-to-sell equipment.
Because of this, many fleets are embracing full-service leases that help them stay current with the latest operating technology, obtain detailed data and improve operating costs over a vehicle’s lifecycle.
Try New Technology
A fleet’s network may include the latest, most sophisticated technology, so today’s fleets must deal with new engine designs, new emissions standards and new reporting requirements. Yet many private fleets are hesitant to invest in the latest systems until the technology is proven. Leasing can allow fleets to try new technologies in a portion of the fleet, reducing the risk of unknown maintenance expenses.
Minimize Unpredictable Maintenance Expenses
Leasing also can reduce maintenance and repair costs throughout a vehicle’s lifecycle. With a full-service lease from Penske, all vehicles receive preventive maintenance as part of the lease. A quality preventive maintenance program minimizes breakdowns and prevents larger equipment failures.
Plus, the longer a fleet owns a truck, the higher the maintenance and repair costs will be. This includes expected items such as tires, oil changes and routine inspections, as well as component replacements. A full-service lease will cover maintenance and repairs at predictable monthly costs.
Eliminate Resale Concerns
A lease also can allow a private fleet to upgrade equipment when ready and minimize market volatility when it is time to turn in a truck. Refreshing a fleet every five to six years may create a piece of equipment that isn’t in demand now that there is new technology. That can make it difficult to sell.
Use Information to Make Better Decisions
Information can help fleets make better decisions about their equipment. Penske Truck Leasing’s connected fleet solutions can link its system to virtually any truck and engine configuration or telematics service provider. The system provides detailed information about each piece of equipment.
“We’ve designed these connected fleet solutions to improve vehicle uptime, safety and compliance, and help keep customers well-informed about their vehicles,” said Brian Hard, president and CEO of Penske Truck Leasing.
Penske also provides remote diagnostics.
This capability enables leased vehicles to connect directly with the 24-Hour Roadside Assistance team. With remote diagnostics, the Penske roadside assistance experts are equipped with everything they need to protect leased vehicles, drivers and cargo.
Penske Truck Leasing can work with you to understand your goals and challenges, and will help you make the best decision to get the most out of your fleet. Penske also brings many benefits to its full-service leasing customers, including helping to spec the right vehicles and helping to maintain those vehicles throughout the life of the lease.