FORT LAUDERDALE, FL (May 7, 2020) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and lifecycle cost management today announced a new Sale-Leaseback program designed to infuse cash and flexibility into transportation fleets. Fleet Advantage, a pioneer in flexible lease finance options, developed this program to help fleet organizations substitute for lost revenues during the current COVID-19 pandemic.
In Fleet Advantage’s Sale-Leaseback program, a company can select the assets from their fleet that are older models, which are inefficient and more unreliable, and Fleet Advantage will purchase those assets and lease them back to the fleet for an interim period until they can then transition to new equipment when ready. This enables organizations to generate cash in the near term, which is especially critical today given the COVID-19 pandemic and strain it has placed on companies and the economy. The cash gained can then be used for immediate internal needs or to simply provide extra working capital.
Combating the Economic Fallout Without Compromising Future Growth
The transportation fleet industry has continued to look for ways to absorb the sharp economic decline as a result of the pandemic. The Sale-Leaseback program allows for the downsizing of fleets if an organization has a surplus of trucks, and it will have a positive effect on the bottom line P&L since the ensuing lease payment will be lower than the current depreciation charge.
“We’re launching this program to help our clients with transportation fleets realize an immediate infusion of cash and flexibility into their organizations,” said John Flynn, CEO of Fleet Advantage. “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.”
For more information about Fleet Advantage’s new Sale-Leaseback program, click here.
About Fleet Advantage
Fleet Advantage has over $1 Billion of assets under management and serves America’s top truck fleets and guarantees the absolute lowest cost of operation by providing truck and trailer financing with matching proprietary data driven IT processes and fleet analytics, using the latest eco-efficient clean diesel technology to achieve optimum vehicle productivity and maximum safety, while reducing total operating costs. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S. In 2018, Fleet Advantage was ranked the 9th Top Private Independent from Monitor Daily; and in 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation. In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida – Emerging Category award.