Cost of Truck Ownership
The decision of whether to lease or own your transportation fleet can be challenging. Often, the most difficult part is identifying and quantifying the various true costs of ownership in order to make a meaningful evaluation. Similarly, identifying and quantifying the many operational & financial benefits a full service lease program delivers can also be a challenge.
Miller has the tools to help you through this evaluation process so you can make the right decision for your company.
Typical Truck Ownership Costs
- Vehicle Procurement Process: Equipment Evaluation; Spec’ing; Financing; Acquisition
- Opportunity Cost of Capital & Reduction in Available Lines of Credit
- Vehicle Legalization Costs: State Sales Tax; Licensing; Federal Highway Use Tax(FHUT); Fuel Permits; Ad Valorem/Personal Property Tax; State Inspections; Fines/Penalties, etc.
- Administrative Costs: Fuel Tax Reporting; Licensing; Taxes; Permits Processing; Maintenance & Repair Invoice Approval & Account Payables Processing; etc.
- Scheduled Preventive Maintenance Costs
- Unscheduled Repair Costs: Engine/Powertrain; Component Replacement; Wear Items.
- Ever-increasing Parts & Labor Costs
- Catastrophic RepairCost Risk
- Emergency Road Service/Breakdown Repair Cost
- Replacement Vehicle “Sub” Costs
- Vehicle Washing
- Owned Garage Expenses (if applicable)
- Vehicle Disposal Costs
- Impact of Increased Downtime on Your Customer Service