Lease or Own: Reasons Why a Truck Lease Program is the Better Choice
Discover Chief Carriers’ lease programs and make your dream of truck owning a truck a reality. Explore flexible options, zero/low down payments, and company-supplied equipment. Empower your trucking career today!
Many people take pride in owning a truck or a fleet of them. After all, buying a truck can help build your credit, and you can qualify for various tax advantages. At the end of the day, you have total ownership of the truck.
However, before you own the car, more factors are involved, like making a down payment, licensing, and permitting, not to mention ongoing maintenance and repairs. Typically, you need to make a 10% down payment of the truck’s total cost and part with a substantial yearly amount for maintenance.
On the other hand, if you choose to lease a truck, you get low, upfront costs and monthly expenses and save on maintenance. With a truck lease program, you can terminate the lease at any time, of course, with a penalty, or you may lease to own trucks at a downgraded price. Let us look at the benefits of leasing a truck instead of buying one.
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Top Reasons Leasing a Truck is the Better Choice
Whether you are looking forward to truck ownership after a lease or want to expand or upgrade your fleet, leasing from Chief Carriers is the best option, considering its flexibility and freeing of capital that you can use in other areas of your business. Here are a few reasons to lease.
Affordable Options
One big reason for leasing a truck is that it does not need huge capital. Buying a vehicle involves hidden costs, taxes, overhead, etc. Furthermore, you must pay sales tax and finance charges in addition to covering these expenses.
The good thing about leasing is that you get better returns because of the low monthly payments. You have more time and money to focus on other lucrative ventures.
Avoid Depreciation Costs
A truck decreases with value as you use it, affecting you as the owner. On the other hand, considering getting a vehicle from Chief Carriers’ lease program helps you avoid depreciation costs.
The lease does not reduce your company’s net worth and will not appear on your CFO’s balance sheet.
More Flexibility
Many leasing companies don’t ask for a down payment, making leasing a flexible option. Once the lease period ends, you return the vehicle and can take another one or extend the lease.
Even better, the lease terms include a fixed, consistent payment that makes your finances flexible.
Less Maintenance and Repair Expenses
Another upside of leasing a truck is the reduced maintenance and repair costs. If you get a full-service Chief Carriers lease program, all repair and maintenance expenses like tire changes, inspections, and oil changes are catered to.
This is unlike owning a truck, where all maintenance and repair services are your responsibility.
Emergency Roadside Assistance
Professional truck drivers in a lease program can get emergency roadside assistance. Unlike owning the truck, you can ask the leasing firm to take care of breakdowns in a full-service lease. That means if the truck breaks down, a mechanic will be on standby to handle the issue and get the truck on the road again.
Key Takeaways
As the cost of buying a truck rises, leasing becomes the best option. It offers more flexibility and frees up your capital. Moreover, leasing has fewer commitments and no worries about maintenance and repairs.
