When It Comes to Your Fleet, How Old Is Too Old?

Truck Fleet

You should be considering a lot more than just the age of your vehicles when you’re considering replacing them with newer vehicles.

Mike Hamilton, CTP, Senior Vice President of Financial Services for AmeriQuest Transportation Services, recently posted a blog on Monitor Daily entitled “Age: It’s More than a Number in Fleet Financing.” In this informative piece, Mike talked about the error that fleets may make by simply retiring trucks based on a traditional life cycle. Instead, he suggests that companies can maximize profitability by having the right mix of trucks in operation. This would include the right trucks for the application as well as trucks of the proper age.

Instead of using a set trade cycle, Mike informs fleet owners that they need to assess each truck individually for a number of factors besides age; factors such as fuel efficiency, maintenance costs, and downtime. He also recommends that you consider the value of that truck in the secondary market. And he would urge fleet owners to reevaluate their fleet age on a quarterly rather than annual basis. That will allow fast up and down fluctuations in fuel prices to be figured into the equation. Having the right data may enable fleet owners to either keep certain vehicles longer than the trade cycle or to trade them earlier.

Mike relates true stories of fleets that have millions of dollars in savings by using more than age to assess their fleet financing needs.

Read the full blog.

Kate Freer

About Kate Freer

Kate Freer is Vice President of Marketing for AmeriQuest Business Services. In this role, Kate is responsible for AmeriQuest’s marketing and communications activities, including image and market development, corporate communications, media relations, brand management, advertising, and market research and analysis. She leads go-to-market strategy for AmeriQuest and its subsidiary companies.Prior to her current role, Ms. Freer served as Director of Marketing of AmeriQuest. She joined the company in 2004 as Marketing Manager, was promoted to Director in 2007, and subsequently promoted to Vice President of Marketing in 2012.Before joining AmeriQuest, Ms. Freer held various marketing, communications, and advertising roles in the publishing industry for Information Today, Inc. and the Courier-Post, a Gannett company.Ms. Freer holds a Bachelor of Science degree from Stockton University.

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