A large utility company was conducting business on a contract basis. While some contracts lasted a matter of months, others were extended for years. To accommodate for this, the company had a mix of long-term leased assets and rental units, but the rental units cost almost twice as much as a leased asset.
The company is on track to save nearly $100,000 annually in lease payments, plus $853,000 annually in rental vehicle cost avoidance. In addition, they have mitigated administration from rental vehicle turn-ins and lease on-road activities.