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Maumee committee recommends buying out most Enterprise lease vehicles to cut long-term costs
Summary
The Finance & Economic Development Committee recommended that council approve purchase of 39 leased city vehicles not to exceed $805,000, citing lower buyout prices as leases mature and longer-term savings from a vehicle replacement plan.
The Maumee Finance & Economic Development Committee on July 1 recommended that city council authorize purchase of leased city vehicles that are maturing in 2025, a move staff said will reduce long-term costs compared with continued short-term leasing.
Committee members were told that as leases mature, Enterprise’s buyout price for those units has fallen, and that purchasing now would save the city money compared with continuing to lease. Staff presented a department-by-department schedule showing most of the remaining leased vehicles maturing in…
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