A Beginner’s Guide to Leasing a Truck
Depending on the needs of your business, a commercial truck can be an excellent investment. However, there are some instances where you’ll only need to use them for a short while. In that case, you should consider leasing a truck instead. You’ll still enjoy all the ownership benefits without the additional maintenance concerns. Not to mention, you’ll get a much more affordable price. Keep reading to learn more about leasing a truck.
Perks
There are many reasons why you might want to lease a truck. If you’re thinking about buying one, renting is a smart first step as it can show you what you’re in for. However, if you don’t want to buy one but you need one for some short-term projects, leasing is an excellent alternative. It’ll not only help you save on the cost of the initial purchase, but you’ll also save money in the long run.
Most of the costly repairs that a truck needs are the result of wear and tear over time. A truck owner is responsible for paying to have these problems fixed, so when you rent, you avoid expensive maintenance and repair costs. Once your projects are over, you can simply return the vehicle to the rental company.
Consider Your Budget
Before you start looking at your truck leasing and rental options, you need to set a budget. Think about how much money you can realistically spend. This will help you eliminate any options that are outside of your budget. It will also help you find out which is the highest quality model you can afford.
When you lease trucks for your fleet, you can anticipate that the payments will be more consistent and predictable over time. Sure, you don’t get to own your truck in the end, but will the truck necessarily be worth owning by the time you pay off the loan? Let’s consider, for instance, that you have a 5-year loan on a truck in your fleet. After those five years are over, you’ll have put thousands of miles on the truck, it may not be in the best condition anymore. Also, since technology changes so quickly, your truck might even be obsolete by the time you pay it off.
When leasing your commercial fleet, though, you don’t have to deal with any of these problems. As soon as the contract expires, you can upgrade to a new truck, and you’ll spend a fraction of the monthly cost in those five years to lease the vehicle than you would to pay off a loan
Signing the Lease
Regardless of the duration for which you’ll be leasing the truck, you should carefully check the lease agreement. The documentation should include all the financial agreements, like rental rates, fuel costs, and any extra charges. Get to know all the lease-related policies and procedures, such as operating restrictions, repairs, maintenance, and insurance. These are some of the basics, but you’ll need to fully understand the contract before signing on the dotted line.
We hope that this guide has been useful. If you need help choosing a truck, be sure to call us or visit DeBary Truck Sales in Sanford, FL. We proudly serve all those in Atlanta, GA.