Ryder System, Inc. announced the launch of two new commercial vehicle lease products, designed to offer customers the most flexibility, choice, and control in fleet management.

Ryder’s pioneering work in truck leasing has helped set the industry standard for more than 80 years. Until now, Ryder’s traditional Full Service Lease has offered only one option for maintenance. With today’s announcement, customers interested in leasing can choose from three different, flexible “Ryder ChoiceLease” maintenance options: Full Service, Preventive, and On-Demand. This scalable model enables customers to decide the terms of their lease alongside the level of maintenance they prefer, from total bumper-to-bumper coverage to pay-as-you-go maintenance, accessed only when and where they need it.

“Our Full Service Lease customers recognize the value that comes from our fully comprehensive leasing and maintenance offering,” said Ryder Chairman and CEO Robert Sanchez. “However, recent market research and conversations with private fleet owners and other prospects that are new to outsourcing have shown that there is strong interest in having options. The new Ryder ChoiceLease products provide agility and customization for businesses that want more control when it comes to their fleets. We’re listening to the marketplace, and offering customers the unique opportunity to do business with Ryder on their terms.

“These new products also help address some of the barriers that in the past, have prevented private fleets from outsourcing their transportation functions,” Sanchez continued. “By offering greater flexibility in our leasing portfolio, we are making it easier for more companies to do business with Ryder.”

Ryder ChoiceLease Full Service is the Company’s traditional full service lease with all maintenance included. Ryder ChoiceLease Preventive allows customers to enjoy the financial benefits of a Ryder lease with preventive maintenance on new and used vehicles, enabling them to choose how and where to handle their other repairs or maintenance outside of preventive checks. Ryder ChoiceLease On-Demand provides customers with the financial benefits of leasing, combined with access to Ryder’s national maintenance network on a pay-as-you-go basis. The offering is only available on new and used trailers, as well as used power equipment.

A first in the transportation industry, the Ryder ChoiceLease is a breakthrough strategic advantage for businesses, helping to save time, control costs, and streamline fleet management. Ryder’s new product portfolio offers flexibility that no other leasing and maintenance provider can. Customers now get:

• The most flexible maintenance choices – Full Service, Preventive, or On-Demand
• The most flexible equipment options – the widest selection of new or used tractors, trailers and trucks from a variety of manufacturers 
• The most flexible terms – short-, medium-, or long-term 
• The most flexible financing – choose from a number of Ryder financing options that help businesses take advantage of tax benefits 
• The most variety of value added services – from fuel and insurance, to safety services