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Free vehicle replacement decision matrix template

Free vehicle replacement decision matrix template. Score keep, repair, replace against five criteria per ISO 55001, AS ISO 31000 and ATO rules.

Updated 25 May 2026

Vehicle Replacement Decision Matrix Template

Lifecycle decision tool | Per AS/NZS ISO 55001, AS/NZS ISO 31000 and ATO depreciation rules

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0 of 36 checks

Vehicle & trigger

1Fleet number, registration and VIN
2Make, model, GVM class and year
3Age in years and kilometres life-to-date
4Utilisation rate versus expected
5Trigger (CPK report, repair quote, annual review)
6Date matrix opened

Financial position

7Net book value per depreciation schedule
8Written-down value for tax purposes
9Known defect repair cost (with quotes)
10Projected 12-month repair cost
11Residual value at sell-now
12Residual value at sell-in-12-months

Operating comparison

13Existing fuel efficiency versus replacement
14Existing downtime hours versus warranted
15Existing dollar-per-kilometre vs projected replacement
16Replacement total cost of ownership
17Acquisition cost and financing profile
18Lead time to replacement availability

Weighted scoring

19Operating cost score (1-5) x weight 30%
20Reliability score (1-5) x weight 25%
21Downtime score (1-5) x weight 20%
22Fuel efficiency score (1-5) x weight 15%
23Resale curve score (1-5) x weight 10%
24Weighted total calculated

Recommendation & funding

25Keep / Repair / Replace recommendation
26Repair scope (where Repair selected)
27Replacement vehicle (where Replace selected)
28Funding source (capital, lease, finance lease, operating lease)
29Cash flow profile across funding life
30Approval pathway identified

Approvals

31Fleet manager signature and date
32Asset manager signature and date
33Finance signature and date
34Procurement signature and date
35Board / executive sign-off where required
36Matrix filed against vehicle and posted to procurement queue

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Jarrod Milford

Jarrod Milford

Co-Founder & Commercial Director

Updated 25 May 2026
Also see:GPS and fleet tracking →Best fleet management software (AU) →MapTrack vs Fleetio →

Short answer

A vehicle replacement decision matrix scores each vehicle on operating cost, reliability, downtime, fuel efficiency and resale to reach a keep, repair or replace call, with the funding source and sign-off. It runs on triggers: a cost-per-kilometre threshold, a large repair quote and the annual fleet refresh. Decline in value for tax is worked out under Division 40 of the Income Tax Assessment Act 1997.

Checked against ISO 55001:2024 (Edition 2) on by the MapTrack templates team. How we check templates

Key takeaways

  • The MapTrack vehicle replacement decision matrix template contains 36 checks across 6 sections. Sections covered: Vehicle & trigger, Financial position, Operating comparison, Weighted scoring, Recommendation & funding, Approvals.
  • Weight five criteria, for example operating cost 30%, reliability 25%, downtime 20%, fuel 15% and resale 10%, and print the rating rules on the matrix.
  • Run the matrix before approving a repair quote above a set share of residual value, commonly 30 to 50 percent.
  • The Australian adoption of ISO 55001 is AS ISO 55001:2024; there is no AS/NZS ISO 55001.
  • Record who prepared, reviewed and approved each keep, repair or replace call, and the capital threshold that set the sign-off level.

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Used by construction, mining and field service teams

Saunders InternationalMineral ResourcesSupagasHacer GroupMetro TunnelUltrabuilt

What is a vehicle replacement decision matrix template?

A vehicle replacement decision matrix template is a structured scoring tool a fleet manager uses to decide whether each vehicle in the fleet should be kept in service as-is, repaired to address a known defect or cost issue, or replaced with a new or used substitute. It applies at three trigger points: when the cost-per-kilometre report shows a vehicle moving above the fleet refresh threshold, when a major repair quote is received that exceeds a defined percentage of the residual value, or as part of the annual fleet refresh planning cycle. The matrix captures the vehicle ID, current age in years and kilometres travelled life-to-date, current book value, estimated repair cost for any known defects, projected repair cost in the next 12 months based on cost-per-kilometre trend, fuel efficiency of the existing vehicle versus a replacement, downtime cost of running the existing vehicle versus the replacement, residual value at sell-now versus sell-in-12-months, scoring against five criteria (operating cost, reliability, downtime, fuel efficiency and resale curve) each rated 1 to 5, weighted total, the final recommendation (keep / repair / replace) and the funding source identified for any recommended replacement (capital purchase, lease, finance lease or operating lease).

The workflow runs from cost-per-kilometre report trigger or major repair quote, through residual value extract, replacement vehicle quote, scoring, weighted total calculation, recommendation and approval. AS ISO 55001:2024 (Asset management systems) sets the management system expectation that asset lifecycle decisions are made on documented evidence rather than gut feel. AS ISO 31000:2018 risk management drives the parallel duty that the replacement decision considers operational, safety, financial and reputation risk. Australian Taxation Office depreciation rules require the residual value and any sale proceeds to align with the depreciation schedule, with the difference treated as a balancing adjustment on disposal under the Income Tax Assessment Act 1997. In MapTrack the matrix pulls cost-per-kilometre, defect log, downtime hours and book value automatically against the vehicle ID, with scoring and recommendation flowing into the procurement queue for the asset manager.

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Benefits of using this vehicle replacement decision matrix template

  • Evidence-based replacement decisions: scoring against five weighted criteria converts the abstract repair-versus-replace question into a defensible recommendation backed by data
  • Multi-stakeholder alignment: a single matrix completed once is reviewed and signed by fleet manager, asset manager, finance and procurement so the decision is owned across the team
  • Capital allocation discipline: matrix outputs feed the procurement queue with a ranked list of replacement candidates so capital is allocated to the assets with the strongest case
  • Residual value optimisation: comparing sell-now versus sell-in-12-months residual values exposes the right timing window in the resale curve
  • Funding source flexibility: identifying capital purchase, lease, finance lease or operating lease as the funding source at the decision point speeds the subsequent procurement and avoids late-stage funding rework
  • Downtime cost transparency: downtime cost of running the existing vehicle versus the replacement is captured in the matrix so the productivity argument is visible, not buried
  • Audit and board defensibility: a stamped, signed matrix is the primary evidence document at audit, board and finance committee review of fleet capital decisions

Benefits of digitising forms in MapTrack

When you digitise vehicle replacement matrix process documents in MapTrack, you get:

  • Field users can easily scan a QR code to complete a form on mobile. Unlimited users.
  • Email the right people when a form is submitted, with an automation you set up.
  • File every completed form against the asset, location or person it covers.
  • Download any completed form as a PDF, with failed answers listed at the top.
  • Fill in forms offline; they upload when the device is back online.
  • Build conditional logic (show or hide questions based on answers).
  • Take pictures or attach photos. Not possible with a paper-based form.
  • Electronic signatures.
  • Edit forms later without reprinting.
  • Set who can view, fill in or edit forms with user roles.
  • Upload a paper form (PDF, Word, Excel or a photo) and MapTrack's AI builds a digital version for you to check.
  • Schedule services by odometer, engine hours or date for every vehicle.
  • Keep fuel receipts and service records with each vehicle's inspections.
  • Record repair costs on each work order against the vehicle.

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“MapTrack's a great platform - intuitive for the guys out in the field and also has fantastic support.”
Supagas

Matthew Anderson

Maintenance Planning Supervisor, Supagas

What to include in a vehicle replacement decision matrix template

This vehicle replacement decision matrix template covers 13 key areas:

  • Vehicle identification: fleet number, registration, VIN, make/model, GVM class, year of manufacture and acquisition date
  • Current age and utilisation: age in years, kilometres travelled life-to-date, utilisation rate versus expected and any major incidents in life-to-date
  • Current book value: net book value per the depreciation schedule, written-down value for tax purposes and any accelerated depreciation events recorded
  • Known defect cost: estimated repair cost for any known defects from the defect log, with quotes attached for any defect above the workshop hourly threshold
  • Projected 12-month repair cost: projection from the cost-per-kilometre report trend, with the rolling 12-month maintenance figure annualised against expected utilisation
  • Fuel efficiency comparison: existing vehicle fuel efficiency from the reconciliation log versus the manufacturer-rated efficiency of the replacement, valued at the current fuel price
  • Downtime cost comparison: hours of downtime in the rolling 12 months for the existing vehicle versus the manufacturer-warranted downtime expectation of the replacement, valued at the production loss rate
  • Residual value at sell-now versus sell-in-12-months: residual quotes from at least three sources (wholesaler, auction, retail), with the resale curve plotted to identify the optimal sale window
  • Scoring against five criteria: operating cost, reliability, downtime, fuel efficiency and resale curve, each rated 1 to 5 with the rule for each rating stated
  • Weighted total: weights applied to each criterion (typically operating cost 30 percent, reliability 25 percent, downtime 20 percent, fuel efficiency 15 percent, resale curve 10 percent), weighted total calculated
  • Final recommendation: keep, repair (with quoted scope), or replace (with quoted vehicle, configuration and total cost of ownership)
  • Funding source: capital purchase, lease, finance lease, operating lease, with cash flow profile and approval pathway identified
  • Approval and sign-off: fleet manager, asset manager, finance, procurement and (for above-threshold capital) board or executive committee signatures with dates

How to use this vehicle replacement decision matrix template

  1. 1. Trigger the matrix at the right point: open a matrix when the cost-per-kilometre report shows the vehicle above the fleet refresh threshold, when a major repair quote exceeds a defined percentage of residual value (typically 30 to 50 percent), or as part of the annual fleet refresh planning cycle for any vehicle within 12 months of the fleet refresh trigger
  2. 2. Capture vehicle identification, age and utilisation: extract fleet number, registration, VIN, age in years, kilometres travelled life-to-date and utilisation rate from the asset register, and record any major incidents or insurance claims in life-to-date
  3. 3. Extract current book value and known defect costs: pull net book value from the depreciation schedule and written-down value from the tax fixed asset register, extract any known defect costs from the defect log with quotes attached for any defect above the workshop hourly threshold
  4. 4. Project 12-month repair cost from the cost-per-kilometre trend: take the rolling 12-month maintenance figure from the cost-per-kilometre report, annualise against expected utilisation and project the next 12 months including any condition-monitoring alarms flagged in the report
  5. 5. Compare fuel efficiency and downtime against a replacement: extract existing vehicle fuel efficiency from the reconciliation log, source manufacturer-rated efficiency for the proposed replacement, value at the current fuel price and compare downtime hours from the work order log against the manufacturer-warranted expectation for the replacement
  6. 6. Obtain residual value quotes from at least three sources: collect residual quotes from wholesaler, auction and retail channels for both sell-now and sell-in-12-months timing, plot the resale curve and identify the optimal sale window
  7. 7. Score against the five criteria and apply weights: rate operating cost, reliability, downtime, fuel efficiency and resale curve each 1 to 5 with the rule for each rating stated, apply weights (typically operating cost 30 percent, reliability 25 percent, downtime 20 percent, fuel efficiency 15 percent, resale curve 10 percent) and calculate the weighted total
  8. 8. Make the recommendation and identify the funding source: select keep, repair (with quoted scope), or replace (with quoted vehicle, configuration and total cost of ownership), identify the funding source (capital purchase, lease, finance lease, operating lease) and outline the cash flow profile
  9. 9. Route for approval and post to procurement: distribute the matrix for fleet manager, asset manager, finance, procurement and (for above-threshold capital) board or executive committee sign-off, file against the vehicle in the asset lifecycle decision file and post any replace recommendation into the procurement queue with the ranked candidate position

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How often should you complete this process document?

The matrix is event-driven, not calendar-driven, with three primary triggers. The first trigger is the cost-per-kilometre report showing a vehicle moving above the fleet refresh threshold (typically defined by age in years or kilometres travelled life-to-date or a cost-per-kilometre figure above the fleet average for the vehicle class). The second trigger is a major repair quote received from an in-house technician or external workshop that exceeds a defined percentage of residual value (typically 30 to 50 percent depending on vehicle class and remaining useful life). The third trigger is the annual fleet refresh planning cycle, in which every vehicle within 12 months of any of the fleet refresh trigger criteria runs through the matrix as part of the capital budget process. Any major incident, accident write-off, insurance claim above a dollar threshold, change to operational requirements (route change, payload change, regulatory change) or unexpected residual value movement (used vehicle market shift, fuel price step-change) triggers an out-of-cycle matrix review of the affected vehicles.

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Frequently asked questions

Five criteria with weighted totals cover the typical fleet replacement decision: operating cost (weight 30 percent), reliability (weight 25 percent), downtime (weight 20 percent), fuel efficiency (weight 15 percent) and resale curve position (weight 10 percent). Each criterion is rated 1 to 5 with the rule for each rating stated in the matrix so different reviewers apply the same threshold consistently. The weighted total drives the recommendation between keep, repair and replace. Weights can be calibrated to the asset class and operational profile: heavy haulage rigs typically weight reliability and downtime higher, light commercial fleets typically weight operating cost and fuel efficiency higher. The weights and the rating rule are printed against the matrix to make the decision auditable.

When a repair quote exceeds a defined percentage of the residual value, the matrix is triggered before the work order is authorised. The typical threshold is 30 to 50 percent of residual value, calibrated to the vehicle class and remaining useful life. For a vehicle within 12 months of the fleet refresh trigger, the threshold drops to 20 percent because the marginal economic case for repair is weaker. For a vehicle in the first quarter of its life, the threshold rises to 60 percent because the residual value curve has more distance to run. The repair-versus-replace decision is then made through the matrix scoring and approval pathway rather than as a workshop call.

AS/NZS ISO 55001 (Asset management systems) sets the management system expectation that asset lifecycle decisions are made on documented evidence rather than gut feel. AS ISO 31000:2018 (Risk management) drives the parallel duty that the replacement decision considers operational, safety, financial and reputation risk. Australian Taxation Office depreciation rules under the Income Tax Assessment Act 1997 require the residual value and any sale proceeds to align with the depreciation schedule, with the difference treated as a balancing adjustment on disposal. AS/NZS ISO 39001 carries the parallel road traffic safety expectation. The matrix is the primary substantiation document at audit, board and finance committee review of fleet capital decisions.

The matrix is prepared by the fleet manager and reviewed by the asset manager and finance team. Where the matrix recommends a replace decision below a defined capital threshold (typically the operational capital authority of the fleet manager or asset manager), it is signed off internally. Where the matrix recommends a replace decision above the capital threshold, it requires additional sign-off from the chief financial officer or chief operating officer and (for above-threshold capital) the board or executive committee. The procurement team signs on the funding source and acquisition pathway. The full sign-off chain is the primary audit evidence and is filed against the vehicle in the asset lifecycle decision file.

The matrix is event-driven, not calendar-driven, with three primary triggers. First, the cost-per-kilometre report showing the vehicle above the fleet refresh threshold. Second, a major repair quote exceeding a defined percentage of residual value (typically 30 to 50 percent). Third, the annual fleet refresh planning cycle in which every vehicle within 12 months of any fleet refresh trigger criterion runs through the matrix. Out-of-cycle reviews are triggered by major incident, accident write-off, insurance claim above a dollar threshold, change to operational requirements or unexpected residual value movement. MapTrack auto-flags vehicles crossing 70 percent of the fleet refresh threshold for the asset manager monthly watch list.

Yes. This vehicle replacement decision matrix template is completely free to download and use, and it downloads as a ready-to-print PDF. No MapTrack account is required. It suits fleet managers, asset managers and finance teams scoring keep, repair or replace against weighted criteria for capital decisions. If you later want to move off paper and spreadsheets, MapTrack feeds this decision with live data: cost-per-kilometre, defect history, downtime hours and book value pulled automatically against each vehicle ID, automated alerts when an asset crosses the fleet refresh threshold, and a complete timestamped audit trail behind every keep, repair or replace call for board and finance review, so nothing slips through across your fleet or sites. Start free at maptrack.com/free-trial or book a demo.

Applicable regulatory standards

This template is a starting point. Check the current requirements that apply to your equipment, work and location. The template alone does not establish compliance.

  • Asset management - Asset management system - Requirements

    Edition: ISO 55001:2024 (Edition 2)

    Life cycle management and asset data behind replacement decisions. The Australian adoption is AS ISO 55001:2024.

    • 8.1: Operational planning and control, including life cycle management of assets.
    • 7.6: Data and information about assets needed to support asset management decisions.

    International Organization for Standardization (ISO)Sold by the publisher

  • Risk management - Guidelines

    Edition: AS ISO 31000:2018

    Risk management guidelines for weighing the operational, safety and financial risk of each option.

    Standards AustraliaSold by the publisher

  • Income Tax Assessment Act 1997

    Edition: Compilation C2026C00471, effective 2026-10-01, registered 2026-10-20; current as at 2026-10-26 (Federal Register of Legislation)

    Capital allowances: the decline in value of depreciating assets such as fleet vehicles.

    • Div 40: Capital allowances: deductions for the decline in value of depreciating assets.

    Commonwealth of Australia (Federal Register of Legislation)

  • Guide to depreciating assets 2026

    Edition: Guide to depreciating assets 2026, published 30 May 2026

    ATO guide to effective life and the prime cost and diminishing value methods under Division 40.

    Australian Taxation Office

  • Road traffic safety (RTS) management systems - Requirements with guidance for use

    Edition: ISO 39001:2012 (Edition 1) with Amd 1:2024 (climate action changes)

    Road traffic safety management systems, ISO 39001:2012; no Australian adoption was listed at check date.

    International Organization for Standardization (ISO)Sold by the publisher

Each source was read at its publisher and the page checked on 26 October 2026. The publisher's current text is the authority.

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  <p style="font-size:12px;font-weight:700;letter-spacing:0.05em;text-transform:uppercase;color:#071D49;margin:0;">Free template</p>
  <p style="font-size:18px;font-weight:700;color:#071D49;margin:6px 0 0;">Vehicle Replacement Decision Matrix Template</p>
  <ul style="margin:12px 0 0;padding-left:18px;color:#374151;font-size:14px;line-height:1.6;">
    <li style="margin:4px 0;">Vehicle identification: fleet number, registration, VIN, make/model, GVM class, year of manufacture and acquisition date</li>
    <li style="margin:4px 0;">Current age and utilisation: age in years, kilometres travelled life-to-date, utilisation rate versus expected and any major incidents in life-to-date</li>
    <li style="margin:4px 0;">Current book value: net book value per the depreciation schedule, written-down value for tax purposes and any accelerated depreciation events recorded</li>
    <li style="margin:4px 0;">Known defect cost: estimated repair cost for any known defects from the defect log, with quotes attached for any defect above the workshop hourly threshold</li>
    <li style="margin:4px 0;">Projected 12-month repair cost: projection from the cost-per-kilometre report trend, with the rolling 12-month maintenance figure annualised against expected utilisation</li>
    <li style="margin:4px 0;">Fuel efficiency comparison: existing vehicle fuel efficiency from the reconciliation log versus the manufacturer-rated efficiency of the replacement, valued at the current fuel price</li>
  </ul>
  <p style="font-size:13px;color:#6B7280;margin:14px 0 0;padding-top:12px;border-top:1px solid #E5E7EB;">Free <a href="https://www.maptrack.com/templates/vehicle-replacement-decision-matrix-template" style="color:#071D49;font-weight:600;text-decoration:none;">Vehicle Replacement Decision Matrix Template</a> by MapTrack</p>
</div>

Free to reuse, including commercially. This template is published under a Creative Commons Attribution 4.0 licence. Copy it, adapt it, put it on your own site or in your own docs. All we ask is that you credit MapTrack with a link back to this page. The snippet above already includes that credit, so if you use it as-is you’re covered.

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The MapTrack vehicle replacement decision matrix template contains 36 checks across 6 sections.

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MapTrack. (2026). Vehicle Replacement Decision Matrix Template [Checklist template]. Retrieved from https://www.maptrack.com/templates/vehicle-replacement-decision-matrix-template

Free to reuse with credit under a Creative Commons Attribution 4.0 licence. If you’d rather link straight to it, the page is https://www.maptrack.com/templates/vehicle-replacement-decision-matrix-template.

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