the best way for fleet managers to decide when to replace a vehicle? For many, an economic lifecycle analysis of a fleet can be an important planning tool – allowing you to analyze the total ownership and operating costs throughout a vehicle’s life to estimate the best time to replace the vehicle (as well as determine whether a vehicle can remain in service for another year.) Other options include replacing when the cost to repair exceeds a certain set amount, or replacing at an established age and/or mileage criteria. Keep in mind, though, that relying solely on age and/or mileage criteria can result in the possibility that vehicles may be removed from service sooner than they should be even though they may have several years of service life left before incurring major repairs.
With a variety of approaches to planning and budgeting for replacement vehicles (all with certain advantages/disadvantages), it’s important to create and implement a replacement program that:
- Accounts for your fleet’s specific needs;
- Evaluates more than one factor when deciding the optimal time to replace a vehicle; and
- Reviews the vehicle’s condition.
For more information about developing an economic lifecycle analysis for your fleet in order to help plan for and budget vehicle and equipment replacement, and information about preventive fleet maintenance programs that can enhance the lifecycle of your vehicles, call All Roads anytime at 516-746-0836 or 631-423-6937.