BINGHAM FARMS, Mich. -

A new product is sent to hit the Canadian fleet industry, potentially making it easier to calculate ownership costs.

Vincentric revealed this week the realease of its Dynamic Cost to Own: Canada Fleet Edition calculator.

“This online lifecycle costing tool for Canada is an extension of the Dynamic Cost to Own product line, resulting in the most comprehensive and customizable lifecycle costing system ever made available to the Canadian fleet industry,” the company asserted.

So, how does it work?

The Dynamic Cost to Own software — which is deployed through a software as a service delivery model —  calculates total cost-of-ownership based on user inputs, “enabling an infinite number of custom lifecycle cost queries, with the results displayed within seconds,” the company explained.

Moreover, the system enables users to customize specific variables for each market and each driver, including actual acquisition costs, specific annual driving distance, finance terms, fuel costs, lifecycle terms and dozens of other variables for each of the approximately 4,000 Canadian vehicle configurations, officials continued.

“Many manufacturers, leasing companies, and fleet operators are using Dynamic Cost to Own to understand and apply lifecycle cost data and support their efforts in the fleet industry,” stated David Wurster, president of Vincentric.

“We are excited to be the first to introduce such a comprehensive lifecycle costing tool for Canada, enabling users to determine ownership costs based on customizable costs, rates, marketplace factors, and lifecycle terms at both the national and provincial level,” he continued.

Explaining what exactly the Vincentric data measures, officials noted it takes into account eight cost elements for every vehicle in the database, including: depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs.

Then, each month the company re-compiles its database “to take into account current vehicle prices, resale values, fuel costs, finance rates and other economic and market factors to ensure that users have 24/7 online access to the most up-to-date and accurate ownership costs in the country.”
 
For more information regarding the Vincentric Dynamic Cost to Own: Canada Fleet Edition system, see here.