Stop running your vehicles into the ground. Make data-driven decisions about vehicle acquisition and replacement.
What’s your fleet vehicle replacement policy? For many, it can be driven by vehicle age or mileage intervals, increasing operating costs or when another vehicle bites the dust. Taking a more data-driven approach can help you forecast the right time to cycle a vehicle based on data, helping you maximize ROI.
Approach Vehicle Replacement Strategically
Our new Optimal Replacement Analysis tool gives you the ability to estimate the expected year of replacement for a vehicle based on utilization, operating costs, depreciation, salvage value and more. Easily input your assumptions of costs over the lifetime of an asset to determine when the optimal time to replace that vehicle would be based on the minimum cost of ownership. See how changes in estimated service costs, remarketing and utilization change the suggested replacement timeline.
You can also use the output of the Optimal Replacement Analysis to validate or adjust existing replacement policies or develop new replacement plans if they don't currently exist in your organization.
Apply Assumptions and Monitor Progress
Associate your replacement policy with each vehicle and see how it’s progressing towards useful life expectancy based on your projected replacement timeline. Fleetio gives you a simple way to visualize remaining useful life and quickly see when it’s expected to be replaced.
Fleetio is committed to helping you get the most from your vehicles and equipment. Look out for upcoming improvements that help you get a better view of where all your fleet vehicles stand at once in relation to their expected life.