The costs of purchasing a new vehicle for your fleet continue long after the purchase date. You may set your team up for big cost savings in the future by setting your fleet management procurement strategy ahead of time.

We’ve identified four of the most factors to consider if you’re looking to create a new procurement strategy or update an old one.

Obtain feedback from your present drivers

Your drivers are the most useful source of information available to you because they utilize the equipment every day. Allow your drivers to provide open and honest input regarding fleet needs, recognizing that they are the ones who will be most affected by a poor purchase.

Examine your fleet’s requirements

After speaking with your drivers, it’s time to figure out what your fleet’s most pressing needs are. Consider the following factors while creating the profile for your new vehicle:

Transportation, freight, and maintenance are all examples of vehicle purposes.

Vehicle Type (Van, Pick-up Truck, or Box Truck)

Crew Cab, Extended Bed, and Body Length are examples of vehicle styles.

Optimal Vehicle Quantity – Is your existing fleet size sufficient to complete the job?

Make a total cost of ownership calculation (TCO)

Calculate the TCO of each car to evaluate the costs associated with it now that you know your specific needs for future vehicles and have narrowed down your alternatives to the best available solutions. While many expenditures are constant (taxes, licenses, vehicle tracking system, and permits), several variables vary by vehicle and can result in long-term savings. Depreciation, gasoline costs, and insurance are three of the most prevalent.

Choose the right partner

If you work with the wrong individuals, all of the other measures will be for naught. It’s critical to keep an objective mentality and conduct thorough research on each of the suppliers you’re considering. The idea is to establish a long-term connection with a fleet supplier who can assist you in locating automobiles.

Few things are more powerful than word-of-mouth recommendations. By reaching out to your industry contacts, you can locate someone who has proven themselves. Many people are eager to recommend providers who have treated them well (or to issue warnings if they have had a bad experience).