Lease or buy? Understanding Total Cost of Ownership (TCO) for Class 8 truck fleets
As fleet owners navigate the growing costs of operating truck fleets, it is critical to accurately quantify TCO, enabling informed lease vs. buy decisions.
With the recent rise in inflation and supply chain disruptions, commercial fleet owners and managers have experienced a profound shift. The future of commercial fleet management continues to evolve as new economic pressures and market dynamics shape the industry landscape. As fleet owners and managers engage in multiple efforts to minimize fleet costs, it is critical that they accurately quantify the full cost of ownership.
A 2024 study by KPMG LLP and Ryder System, Inc revealed that total cost of ownership (TCO) is often poorly understood by fleet owners and managers. Self-reported data indicates that fleet owners and managers frequently don’t consider all cost levers and underestimate the costs they do consider, resulting in suboptimal lease-versus-buy decision-making.
Here are some key insights from the study:
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Want to better understand your fleet’s TCO? Download our paper, "Lease or Buy? Evaluating the rising costs of truck fleet ownership," to uncover the true costs of your fleet, explore potential savings, and make informed decisions about your fleet management strategy.
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Lease or buy? Evaluating the rising costs of truck fleet ownership
Explore the factors influencing the lease vs. buy decision for commercial fleets and learn how to accurately quantify total cost of ownership
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