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6 Tips for Managing Your Company’s Vehicles - Sophia Belnap - Blog

6 Tips for Managing Your Company’s Vehicles

Whether you are managing a thousand trucks or a few company cars, you need to be well-organized to get the best results from your company’s investment. While a business’s vehicles can provide excellent returns on investment, they can also be a challenge to manage effectively. The following six best practices will help to get the most from your vehicles.

  1. Be Proactive About Safety

It should probably go without saying but safety needs to be a top priority for any company that owns vehicles. The roads can be unsafe places at times, and it is important to have safe vehicles. Breakdowns and accidents cost a lot more than good maintenance, especially if someone gets hurt.

Beyond making sure the vehicles are safe, you should also establish some methods for ensuring that your drivers are being safe. There are some devices that can help you determine whether drivers are being safe. Good-quality and regular driver education can also help.

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  1. Establish Clear Protocols for Purchasing and Maintaining Vehicles

Sometimes mistakes happen because people simply don’t understand the rules they are supposed to be following. Whether you are buying new vehicles for the fleet, decommissioning old ones or maintaining your existing stock, it is helpful if everyone can be on the same page.

All these activities involve other people from your organization. Whenever you need others to cooperate with you on the company’s vehicles, the best approach is to set simple but regimented protocols.

  1. Find the Right Insurance Partner

As with all vehicles, your company’s fleet should be properly insured. Finding the right insurance provider will help you to protect the company’s financial interests in the event of a crash or other incident.

Of course, your premiums can also be significant. It is often worthwhile doing the research to secure cheap car insurance that also provides high-quality service. Despite what you may expect, this is quite possible. It is easiest when you use a comparison tool to find different quotes.

  1. Explore Fueling Options

Fueling is a big part of fleet management. You need all your drivers to have access to the right fuel to get the job done. Depending on the needs of your organization, you may prefer on-site fueling, fuel cards, direct fuel delivery or another option.

The key to success in fueling is knowing what your choices are. A lot of companies’ teams simply settle on the first type of fueling that they come across. Exploring your options can help you to secure a solution that saves your company money while also being convenient for your drivers.

  1. Measure Fleet Success

Measurement can help with the management of almost every business function. As mentioned above, you can measure drivers to see how their driving affects vehicle maintenance, fuel consumption and accidents. While you may not want to micromanage every decision made on the road, understanding some of these factors can help you to better oversee the company’s vehicles.

Furthermore, you can examine metrics related to the vehicles you’ve purchased or leased. Knowing which ones are performing well can help you to make more informed decisions in the future.

  1. Know the Pros and Cons of Leasing

While many companies buy vehicles to use, leasing can often be a better choice. When you lease vehicles, you have a lot more flexibility about upgrading, scaling up or scaling down. You aren’t tied to the vehicles that you have in the same way.

You will miss out on the equity in the vehicles themselves. However, that may not matter to your business. Owning assets is only useful if you are getting a good return on investment for them. Furthermore, leasing can have some significant tax advantages.

Learn More

Discover more about managing company fleet vehicles today. With the above six best practices and a few other techniques, you could be in excellent shape to achieve continued success with your company’s vehicles.

Publish Date: July 19, 2021 5:37 PM

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