Vehicle Acquisition Options

Vehicle Acquisition Options Chart

This chart provides you with guidelines for whether to acquire a vehicle through the options of buy, lease, rent, or reimburse.

When making a vehicle acquisition decision, you must look not only at financial comparisons, but also at your entity's situation and need. Ask questions to drive your decision.

  • Does your agency have funding for major vehicle repairs typically seen after a vehicle reaches 5 years of age?
  • Does your agency have enough funding to purchase a new vehicle?
  • How many miles will the vehicle be driven?
  • How frequently will be the vehicle be driven?
  • How long does your agency need a vehicle?
  • Does the vehicle require specialized equipment? ex. bucket trucks
  • Will the vehicle be used for a specific purpose? ex. law enforcement
  • Is the cost per mile more or less important than long-term costs?
Learn How to Acquire a Vehicle

Factors

POV

Rent

Lease

Purchase

Mileage

Under 30 miles per day

Over 900 miles           per month

14,000 per       year

14,000 per year

Length of time needed

Depends

1-3 months

6 months –        3 year

3-5 years

Must be under allotment?

No

No

Yes

Yes

Capital funding

No

N/A

N/A

Yes

Operating funding          

Yes

Yes

Yes

Yes​