V: Vehicle Acquisition

Importance

Acquiring the right vehicles ensures your fleet meets customer demand.

Optimize Vehicle Lifecycle

Plan vehicle lifecycles with pre-acquisition planning and cost analysis to maximize value and reduce costs.

• Example: Element Fleet Management saved a client $945,000 monthly.

Leverage Bulk Purchasing

Negotiate bulk purchase discounts and fleet incentives to lower costs and obtain additional benefits like maintenance packages.

• Example: OEM concessions saved Element Fleet Management's client significantly.

Use Data-Driven Decisions

Make informed decisions based on total cost of ownership, including maintenance, fuel, and depreciation, ensuring long-term value.

• Example: ACV Auctions uses real-time data for cost-effective vehicle selection.

Diversify Your Fleet

Maintain a mix of vehicle types, including economy cars, SUVs, luxury vehicles, hybrids, and electric vehicles, to meet diverse customer needs.

Adopt Flexible Acquisition

Use a combination of buying, leasing, and financing to balance financial outlay and operational needs.

• Example: Element Fleet Management suggests batch ordering to manage supply chain constraints.

Focus on Auction Relationships

Build strong relationships with car auction platforms for a wide range of vehicles at competitive prices.