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Title: Lease Vs. Purchase Analysis of Alternative Fuel Vehicles in the United States Marine Corps
Authors: Stephen Lebo
Robert Scott
Keywords: Lease
Alternative-Fuel Vehicle (AFV)
Incremental Costs
Salvage Values
General Services Administration (GSA)
United States Marine Corps (USMC)
Light-Duty Vehicle
Issue Date: 9-Dec-2009
Publisher: Acquisition Research Program
Citation: Published--Unlimited Distribution
Series/Report no.: Leasing
Abstract: Having endured an economic downturn and impending budget cuts, should the United States Marine Corps (USMC) continue to lease the majority of its Alternative-fuel Vehicles (AFVs) from the General Services Administration (GSA) or should it consider purchasing AFVs as a viable option? This thesis will examine what, if any, benefits there are for the USMC to either purchase or lease AFVs. More specifically, it will attempt to determine what the USMC's optimal acquisition decision should be (lease or purchase), given potential changes in purchasing patterns over time. This analysis will afford decision-makers the ability to make strategic financial decisions based on anticipated changes in the size of the USMC's Garrison Mobile Equipment fleet, as well as anticipated changes in market conditions regarding vehicle purchase prices, incremental costs, and salvage values. To answer these questions, this thesis will analyze historical data (2004 to 2009) for the largest populations of AFVs in the light-duty category and then apply a model that will compare the two alternatives based on their relative net present values. An aggregated view of several different light-duty AFV categories will then identify whether leasing or purchasing would be the most preferred.
Description: Financial Management / Graduate Student Research
Appears in Collections:NPS Graduate Student Theses & Reports

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