Fleet Advantage reported that since introducing its sale-leaseback program in April 2020, the program has secured approximately $45 million in new business for the company.

As part of the program, Fleet Advantage purchases a fleet’s existing trucks, reduces the fleet size and leases the trucks back to the client. The program also includes the sole option to transition into newer equipment at any future date and at a fixed monthly payment.

“As transport fleets navigated through 2020, they continued to seek advice on how to optimize their fleet to reduce their total cost of ownership,” John Flynn, CEO of Fleet Advantage, said. “Our business strategy for our customers is to remain focused on today but always with an eye to forward-thinking and competitive positioning within the industry.”

Fleet Advantage also reported that its lease origination volume increased by 37% to $455 million and more than 3,900 semi-tractors in 2020 vs. 2019.