Fleet Financing with Ewald
Reduce Monthly Payments
We help you develop a leasing plan that delivers the fleet you need while also improving your cash flow and lowering your monthly payments.
Cost Savings
Leasing a fleet can offer you a variety of cost savings, reduced maintenance costs, and the ability to operate a more current fleet of vehicles at a price that fits your budget.
Flexible Options
Our leasing services give you the flexibility to tailor each vehicle to meet the exact requirements of your company’s needs and objectives.
Sound Advice
Our team can help you determine the best financial solutions at competitive prices for your business.
Advantages of a Vehicle Leasing Program
Business car and truck fleet leasing services give you the flexibility to tailor each of your vehicles to meet the exact requirements of your company’s needs and objectives while improving your cash flow and lowering your monthly payments.
Lease Program
Purchasing
Financial life equals useful life
Book value is often not in line with market value at time of disposal
Discipline to enforce standards and reduce vehicle acquisition and administrative costs
Vehicle diversity and lack of standards increase both vehicle acquisition and administrative costs
Replacing vehicles is cost effective and convenient
Upgrading owned vehicles is capital-intensive and cumbersome
Eliminates excess fleet build-up
Purchasing intensifies vehicle fleet build-up
Lessor assumes disposal responsibility, maximizing returns with automotive expertise
Disposal of vehicles is time-consuming, expensive, and lacks the application of automotive expertise
Low monthly lease fee
Capital-intensive
Leasing allows cash flow flexibility
High budgeting and forecasting costs
Vehicles are cycled, reducing maintenance expenses, improving corporate image and driver morale
Vehicles are often retained beyond optimum life, resulting in higher maintenance costs and poor image
Off-balance sheet financing and creative financial structures
Financing affects the bottom line
Frequently Asked Fleet Leasing Questions
How to reduce the cost of fleet leasing
Start with a needs analysis
Begin by completing a fleet and utilization analysis to determine the optimal number of vehicles you need in your fleet. You should have enough fit-for-purpose vehicles for your employees to do their jobs effectively, while ensuring no vehicle is under-utilized.
Order your vehicles from the factory
Choosing factory ordering, rather than dealership stock, will significantly reduce your acquisition costs, leading to lower monthly lease payments.
Consider open-end leases
Open-end leases are specifically designed for business use. They have no mileage limits, a more flexible wear and tear policy, and more flexible lease terms. They also improve financial ratios, keep credit lines open, convert capital expenditure into a monthly expense, and can reduce the up-front cost of sales tax.
Talk to the Ewald Fleet Solutions team
The specialists here are Ewald can help you reduce your fleet leasing costs, with a focus optimizing the total lifecycle costs of each vehicle.
How to choose between an open-end and close-end lease
Consider both options
There are two options for leasing a fleet of vehicles: open-end leases and close-end leases. An open-end lease has more flexible terms, including flexible mileage estimates and participating in the gain or loss when the vehicle is sold at the end of the lease term. You also have the opportunity to capitalize on gains at the end of the term. In a close-end lease you’ll take on less risk from depreciation but you may also miss out on potential gains, and you’ll be subject to more stringent terms which can add costs in the long run.
Evaluate your mileage needs
Open-end leases have no mileage limits, even if your employees have a high number of travel miles. Close-end leases typically have fixed terms and mileage limits, with additional per-mile fees once the maximum has been hit.
Consider unexpected expenses
Open-end leases are more accommodating of general wear and tear. With close-end leases, you’ll be responsible for excess wear and tear costs.
Establish a lease timeline
Closed-end leases have rigid mileage limits, and the lessee is responsible for excess wear and tear. Open-end leases are based on mileage estimates, with no strict guidelines on wear and tear, and the lessee may experience gains or losses on the vehicle. That’s one reason open-end leases are the most popular type of lease. No matter what lease you choose, terms typically range from 24 to 60 months, driven by annual mileage estimates and your desire to have the latest and greatest vehicles.
Ask a fleet leasing professional
Contact the fleet specialists here at Ewald’s for advice on choosing the right leasing structure for your business.
How to lease a fleet of cars, trucks, or vans
Determine your needs
Consider the needs of the job and get input from drivers to determine the right fit-for-purpose cars, trucks, or vans for your requirements.
Evaluate open end and closed end leases
Research the differences between open end and closed end leases. Typically, open end leases are a better fit for businesses, since they offer more flexible lease terms and have no mileage limits.
Consider upfitting and graphics
Vehicle graphics promote brand awareness and present a professional image to the public. Equipment such as ladder racks, shelving, and bulkheads allow employees to be safer, happier, and more effective on the job.
Ask an Ewald fleet management specialist
The team at Ewald Fleet Solutions is your partner for turnkey fleet solutions. We will work with you to establish the right lease terms for your business, choose the right vehicles, and upfit them to your exact specifications before you receive them.