Advanced asset management systems have emerged as important tools in the management, maintenance, and procurement of vehicles for transit fleet operators. Effective design and use of an asset management system can increase productivity, enhance public perception, and provide a consistent basis for decision making and planning. This paper documents the design and application of a vehicle procurement model in an asset management system created for the Alabama Department of Transportation to manage vehicles purchased and operated through the Section 5311 federal grant program. The vehicle procurement model predicts future vehicle serviceability, or condition rating, by using a combination of factors, including service area socioeconomic data and vehicle usage data. Application of the system helps transportation professionals estimate the overall fleet quality, identify vehicles that will need to be replaced each year, aid in the management of vehicles, and provide a basis for predicting future funding and budgetary needs.