We have previously discussed the importance of fleet maintenance on your business’s bottom line, reputation, and driver safety overall. Preventative maintenance is one of the most critical steps to ensure your fleet’s efficiency and safety on the road. However, prices are at an all-time high right now, including fleet maintenance costs. So how can you enjoy the benefits of fleet maintenance while still saving money in the long run? Let’s go over some methods below.
What Are Fleet Maintenance Costs?
Before discussing how to start saving, we must determine where the money is going. There are four major categories of spending in fleet maintenance:
- Capital: Anytime you purchase a vehicle, there’s a possibility that a different decision could have led to a greater ROI. This gap in ROI is a hidden cost of obtaining fleet capital.
- Repairs: Repair costs for fleets often increase every year. It’s possible to reduce the rate of this increase by engaging in preventative maintenance with quality maintenance providers.
- Depreciation: It’s impossible to prevent devaluation entirely, but you can slow it down. If you keep up with preventative maintenance, you’ll find your vehicles remain in good condition longer.
How to Reduce Fleet Maintenance Costs
GPS Tracking Software
GPS tracking software will update you in real-time regarding a wide array of information about your fleet, from fuel use to safety. It can track location, unsafe driving habits like hard braking, and concerning events like vehicle theft. When you have constant insight into your vehicle performance, it is easier to lower your TCO.
Route Planning Software
Route planning software can help your drivers get everywhere they need to be throughout the day in the most efficient manner possible. The technology uses algorithms and machine learning with real-time traffic data to save your business time on the road, reducing vehicle wear and tear.
Replace Aging Vehicles
While good maintenance practices do prolong the life of your vehicles, they won’t last forever. Eventually, it will cost more to maintain an old vehicle than to replace it. Fleet maintenance software can help you see how much you’re spending on maintenance and repairs for your vehicles, so you can easily decide when it’s time to replace them.
Upgrade Parts
Replacing old parts is one way to breathe new life into an older vehicle. This will reduce maintenance costs for that vehicle and ensure you can get more miles out of it before it is time to replace it. The upfront cost of replacement is often a worthy investment.
Balance Acquisition and Depreciation Costs
Depreciation is a sneaky concept, but it matters as soon as you buy your vehicle. You may find a vehicle with a low sticker price, but if it depreciates faster than a more expensive counterpart, it may not be worth the discount. It’s important to consider all financial metrics when buying new vehicles.
Let Fleet Management Software Help You Save
When it comes to saving on fleet maintenance, fleet management software is here to help. Azuga’s fleet management solution comes with fleet maintenance tools that help you prioritize preventive maintenance, so you know your vehicles are always in their best shape, and you’re always getting the best deal. Try a demo of our software and see for yourself what we can do.
