Keeping Pace: Moving Into Telematics Affordably

  December 3, 2019

  Read Time: 00 MIN 45 SEC

Many businesses are moving aggressively into telematics. Knowing where, when and how your equipment is performing drives big efficiencies and bigger savings. Companies find that telematics support:

  • Higher Productivity
  • Lower Labor Costs
  • Control of Fuel Costs
  • Better Customer Service
  • Increased Fleet Safety & Security
  • Reduced Operating Expenses
  • Less Unauthorized Vehicle Use

But it isn’t cheap.

Recent research indicates that an average company faces more than $60,000 in equipment investment annually to stay on the cutting edge of technology.

That’s big money. So big that too many businesses are delaying investments in telematics and watching their competition move ahead of them. But it doesn’t have to be that way.

What if you could avoid the pain of a big cash outlay? All classes of commercial equipment lose value, especially technology like telematics. You wouldn’t knowingly invest $50,000 in a stock you know is going to be worth $25,000 in five years. But time after time business owners drop huge down payments on their commercial equipment or pay cash outright.

Even if you produced three times the revenue for the equipment cost, what’s your return on that investment? There is no real merit to owning 100% of an asset that will be worth half of what you paid for it in the near future. And when the upgrade comes, it hurts even worse.

What if you just paid for what you use? Why not a simple monthly payment for the use of equipment you’ll pretty much always need? And when the equipment’s ready for replacement or upgrade, you just get the new model and keep the monthly payment stream going.

This strategy not only allows you to affordably acquire telematics for your operations, it builds a platform to stay on the cutting edge of technology as it evolves. Did you know that first generation telematics are now almost 10 years old? We are likely on generation seven or eight, and most companies are still trying to figure out how to get in.

An equipment finance partner that knows your business can help. At LEAF, we make equipment more affordable. Our customized finance solutions solve real problems – like gaining the benefits of telematics and other new technologies faster.

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