Fleet Advantage is now offering the Sale-Leaseback program, which was designed to help fleets supplement lost revenue during the current COVID-19 pandemic.
A company can select assets from their fleet that are older models and Fleet Advantage will purchase those assets and lease them back to the fleet for an interim period until they can purchase new equipment. The money can be used for immediate internal needs or to provide extra working capital.
“Having additional cash on hand is critical for today, but the flexibility to upgrade to newer truck technology with advanced safety features tomorrow will help fleets come out of the pandemic with a significant competitive edge through financial and operational efficiencies gained,” said John Flynn, CEO of Fleet Advantage.
The Sale-Leaseback program allows for the downsizing of fleets if there is a surplus of trucks, having a positive effect on the bottom-line profit and loss, since the lease payment will be lower than the current depreciation charge.