Ryder Updates Fleet Buy-Out Program

Ryder updated its fleet buy-out program, which allows customers to trade in their fleets and then lease new trucks through Ryder’s leasing program. Subject to the terms of the program, Ryder will purchase used commercial vehicles in a one-for-one leasing exchange with competitive offers and a guaranteed sale.

Vehicles sold through the program do not need to be the same type of vehicle that is leased from Ryder, so companies can shift their fleet mix, selling or leasing anything from vans, box trucks, tractors, or trailers. All vehicles are eligible to be considered in this program.

“The program has already supported a wide variety of customers, from owner-operators to large businesses, and we’re excited to revitalize the program so we can assist more customers,” John Diez, president of fleet management solutions at Ryder, said. “Our customers wanted an easy-to-use program where they are assured they can sell at a fair price, and we were able to structure a program that does just that. We see tremendous value for both sides.”

This program gives businesses who own truck fleets access to the features of leasing with Ryder, including preventive maintenance and 24/7 roadside assistance. In addition, the program allows access to rental trucks and offers vehicle licensing, permits, tax reporting and regulatory compliance.

“Through Ryder’s fleet buy-out program, New South Express was able to sell our aging vehicles with ease,” Carl Hamilton, president of New South Express, a transportation company that specializes in hauling lumber and wood product residuals across the Southeast, said. “With a guarantee of sale from Ryder, we don’t have to worry about the difficulty of selling or getting a fair offer. The fleet buy-out program gives us a simple solution to convert our old vehicles without all the unnecessary obstacles.”

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