Fleet Track Start-Up Costs Leasing Vs. Purchase
2
Jul
2011
Many of the larger GPS service companies are providing lease purchase options, which combine hardware, gps service and installation costs under one “low” monthly payment. Leasing equipment and service is an option many companies like to use, because of the low start-up costs. We recommend always breaking down the exact costs over the term of your lease, to see what you are ultimately paying.
Here are some things to be aware of when leasing:
With a lease are financing your purchase, so you are paying interest on your “lease” payments.
The hidden cost of leasing. Here is an example of a company charging $45 per month per vehicle on a lease over a 36 month term. Your total cost for hardware, service and installation is $1620.00 per vehicle over the lease term.
Using our G5 system as an example, here is what your total costs are on a purchase:
G5 Hardware – $349.00
36 Months Of Service – $1078.20
Average Install Cost – $65.00
No Sales Tax Outside, CA.
Your total purchase cost: $1492.20 vs. a leasing cost of $1620.00. Purchasing saves you over $127 over the cost of the lease. The more vehicles in your fleet, the greater the cost savings are with a purchase.
You should also know that lease contracts require that you make your payment each and every month for the full contract term, whether or not your vehicles are being used or not! This means if you take a few vehicles out of service, you must still pay the monthly fee – no matter what.
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About George Karonis
George Karonis is the founder and Chief Executive Officer of LiveViewGPS Inc., a company he established in 2008 with the vision of making real-time GPS tracking more reliable, affordable, and accessible for businesses of all sizes. Over the past two decades, he has built a reputation as an innovator in GPS tracking, fleet management, asset monitoring, and Push-to-Talk over Cellular (PTToC) communications.
Under George's leadership, LiveViewGPS has grown into a nationally recognized provider of GPS tracking solutions, serving businesses, government agencies, educational institutions, law enforcement organizations, and public works departments throughout the United States. The company's technology helps organizations improve operational efficiency, protect valuable assets, increase driver safety, and reduce operating costs through real-time location intelligence.
Before founding LiveViewGPS, George developed a background in security, surveillance, and emerging location technologies. His passion for innovation and practical problem solving has driven the development of products that combine dependable hardware with easy-to-use cloud software, giving customers actionable information when it matters most.
In 2018, George expanded into nationwide Push-to-Talk over Cellular communications by launching PeakPTT, providing businesses with rugged, instant communication solutions that operate over LTE and Wi-Fi networks. His focus has remained the same throughout his career: delivering dependable technology backed by exceptional customer service and long-term customer relationships.
George regularly writes about GPS tracking, fleet management, asset protection, business technology, and communication systems. Through this blog, he shares industry insights, practical advice, and emerging trends to help organizations make informed decisions about tracking technology and connected operations.
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