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Valley Center officials weigh bringing vehicle fleet management in-house to cut finance costs
Summary
A city presentation outlined plans to move parts of Valley Center’s fleet program from Enterprise Fleet Management to locally financed, in-house operations, citing contract interest rates of 9–15% and projected savings on individual vehicles and the broader portfolio.
A city presentation on Nov. 18 outlined a plan to shift parts of Valley Center’s vehicle fleet program away from Enterprise Fleet Management toward in-house administration and direct purchases through local dealers and banks.
The presenter, addressed in the meeting as Clint, told the council that Enterprise-managed leases have embedded interest rates he calculated between about 9% and 15% and that those costs are “hidden inside the contract.” He said the city currently finances 29 vehicles through Enterprise and has begun analyzing whether breaking some contracts and refinancing with local lenders could save the city money.
Clint cited one real-world example: a replacement Chevrolet Tahoe quoted at $56,281 through a local…
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