1: It’s A Lot Cheaper Than Buying
In today’s economy, it’s cheaper to lease a truck than buy one. This is due to a few key reasons. One of which is the fact that, after the Crash Of 2008, banks and other certified lending agencies are far less reluctant to give out big loans. If you want to purchase a couple of good trucks – or a fleet of them – it’s going to cost you quite a bit of cash. And the thing is, leasing is quite a bit cheaper overall, and since you’re running a business, you know that you need to attain a solid return on investment. If not, your business is not really a business, it’s a source of debt.
2: They Don’t Become Business Assets That Depreciate
When you buy a truck for your business, or a fleet of them, they become business assets. However, these assets depreciate over ‘mean,’ which means that as time passes, they lose financial value and become less profitable for your business. That’s the big problem with putting a lot of money into trucks. They are one of the chief expenses in a company set-up, and they lose value over a rather short period of time. Thus, making this a very questionable investment. To learn more about depreciating assets, you can go to this page on Investopedia, which covers the whole spectrum of business assets and the nature of a depreciating asset.
3: You Get Modern Vehicles Of Excellent Quality
When you lease a vehicle through a high-quality leasing service, you often get modern vehicles that are fairly new and in excellent quality. This contrasts with the vehicles that you may have to purchase, due to the limited amount of funds that you may have. Not only will those used vehicles require a bit more maintenance, but those assets will already have depreciated quite a bit.
4: No Maintenance Costs
Unless you mess up big time, any potential maintenance costs and difficulties are handled by the leasing organization. This allows you to save quite a bit of money, and, ultimately, you won’t have to worry about this as much.
5: There Are Many Great Leasing Plans And Services Out There
Renting a commercial pickup is so easy these days because of the wide variety of fantastic services that exist. One of our personal favorites is Flex Fleet Rental, which has an incredibly simple and easy to use plan. They allow you to set up an account, then have your trucks dropped off where you need them in no time at all, for a great cost!
6: You Don’t Need To Take Out A Loan
If you’re going to buy a fleet of trucks, you’ll need a loan. Usually, a business loan. Sometimes, it’s in the form of a mortgage. With leasing, you don’t need to take out a loan, and this reduces the amount of debt that you will need to take on. Thus, making sure your return on investment is very strong, which is essential to your business.