Planning for vehicle replacements is a key aspect of fleet management. In this post we’ll discuss when you should replace and update fleet vehicles, and why this matters.
For more information on how we can help you and your fleet, get in touch with us on 020 8290 9099 or email us at commercial.motor@anthonyjones.com.
Why You Need To Plan For Fleet Vehicle Replacements
We have previously published a guide to truck maintenance schedules, in which we discussed how ongoing servicing and maintenance can help keep your fleet efficient and reliable.
But nothing ever lasts forever. And as your fleet vehicles get older, servicing and maintenance will get more expensive, and less dependable. There will eventually come a time when the safest and most cost-effective choice will be to replace the vehicles outright.
Because with older vehicles, the costs can soon ramp-up. Beyond the regular maintenance, you’ll have to contend with higher fuel consumption and, potentially, more frequent breakdowns and downtime.
New vehicles, though, can be more fuel efficient and a lot more dependable. They’ll be fitted with the latest in road safety tech, including numerous ADAS features. Plus, they’re more likely to meet certain requirements and regulations, such as London’s new rules for HGV safety, without the need for any additional servicing.
When and How Often to Replace a Fleet Vehicle?
Knowing when to replace the vehicles in your fleet will depend on a number of factors. Different vehicles will have a different lifespan, and of course your annual mileages will make a difference too.
Here are some things to consider when planning for vehicle replacements:
Replacing Fleet Vehicles After 5 Years
Generally speaking, if a fleet vehicle is more than five years old, then it might be time to consider a replacement.
Why? Because most manufacturer warranties expire after five years. So from this point, you’ll be looking at higher servicing costs, while ongoing wear and tear will make regular maintenance increasingly necessary.
Setting Fleet Vehicle Mileage Benchmarks
The vehicle manufacturers might specify that you should look to replace vehicles once they hit a certain mileage. This could be around 100,000 miles, or maybe less depending on the vehicle.
It could be a question of what comes first: The mileage benchmark, or the point at which the vehicle’s warranty expires? You should consider these factors side-by-side, rather than favouring one over the other.
If the vehicle has a high mileage and it’s out of warranty, then it’s probably time for a replacement. But if it has a high mileage but there are still a few years left on the warranty, or if the warranty’s expired but you’re looking at a relatively low mileage, then there might be some life in the vehicle yet.
Consider Vehicle Condition
We’re not talking about dents, bumps, scratches, and other cosmetic issues. But if one of your fleet vehicles has been involved in a collision resulting in major damages, then a replacement might be more cost-effective than a repair.
It’s not just the expense of maintenance: Significant repairs can take time. And the longer the vehicle’s off-road, the more it’s going to cost you.
Fuel Efficiency and Emissions
Keep an eye on industry rules and regulations, and other developing trends. For example, consider how many UK cities are introducing clean air zones. If these regulations make it too costly to drive vehicles with certain emission levels, then it might be time to think about replacements.
Ultimately, you may decide to electrify your fleet. Read our full guide to planning and implementing an EV adoption strategy.
Get The Specialist Cover You Need For Your Fleet
If you are looking to replace the vehicles in your fleet, then it may also be time to reconsider your commercial fleet insurance cover.
At Anthony Jones, we can offer expert risk management advice while advising on the insurance implications of your fleet vehicle replacement plan. With our support, you can get the comprehensive cover you need at the best price.
For more information on how we can help you and your fleet, get in touch with us on 020 8290 9099 or email us at commercial.motor@anthonyjones.com.
