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Owasso staff outlines mixed buy/lease plan, highlights "99% down" option to modernize city fleet
Summary
City staff told the Owasso City Council that leasing with Enterprise Fleet Management has lowered average fleet age and operating costs and recommended a blended strategy that favors outright purchase when practical while keeping a retainer for remarketing; staff explained a 99% down option to preserve control and reduce charges.
City staff presented the results of the city's leasing program with Enterprise Fleet Management and urged a blended acquisition strategy that would keep majority ownership while preserving Enterprise's remarketing services.
A presenter said the city has leased 51 vehicles since the program began and that "the average fleet age has decreased from 10 years to 5 years for leased vehicles" as newer units replaced surplus assets. The presenter said maintenance costs fell from about $146 per unit per month to roughly $36 and that fuel economy improved by about 1.5 miles per gallon, producing estimated operating savings and higher resale equity.
Why it matters: staff told council that the savings on maintenance and fuel can be partly offset by lease charges and that a one-size-fits-all leasing approach leaves the city with limited exit options. To…
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