MoneySaver Tip - Vehicles
Keep on Truckin’ Monitoring each vehicle as a cost centre is the key to managing fleet costs. Understanding the cost of owning and operating vehicles and/or other heavy equipment is critical to making a profit. Ensuring that each vehicle is contributing to the bottom line can be a logistical nightmare. Each vehicle must be monitored as a cost centre. Only by establishing the cost of running each vehicle is it possible to determine the cost of the fleet and determine whether sufficient markup has been included in the client billing to recover costs. Cost per Vehicle The following is a list of factors that need to be recorded: date and cost of purchase vehicle identification number (VIN), year of manufacture, make, model, and any customizations or post-purchase modifications all financial data whether the vehicle was bought outright, financed or leased terms of any loan or lease, including payment amount, date, int...