Is it better to lease a truck rather than own one?

We found this great article on the Ameriquest website.

Experts weigh in on the reasons fleets should look to leasing rather than ownership.

Recently, Transport Topics ran an article entitled “Trucking Fleets Cite Maintenance Costs Among Benefits of Leasing Vehicles.” The article quotes a number of industry experts discussing the changes in fleets’ attitudes when it comes to the decision whether to purchase or lease.

Companies are trying to maintain and hopefully increase whatever profits they make by focusing on their core business. One way to do this is through leasing rather than owning a fleet; another is by outsourcing many traditional cost centers to expert providers. According to Dean Vicha, president of NationaLease, “Folks are starting to look at outsourcing where before they had their own shops, but the commitment to technology and the issues with hiring good technicians is just much tougher than it was in the past.”

So how does leasing enter into the benefit here? To start with, in the most general sense, leasing a fleet is beneficial to companies in a number of ways. The high cost of new trucks, with all the new technology, has made companies question whether purchasing makes sense. With leasing, there is minimal upfront investment, so companies can use their capital to grow the business. Leasing companies offer detailed analysis on vehicle usage, helping businesses use only the types and quantities of vehicles necessary.

Truck leasing companies are transportation partners.

The Transport Topics article quotes Tom James, CEO of the Truck Renting and Leasing Association, who stated, “People are looking for transportation partners and that is what leasing companies are…Fixed monthly costs allow companies to focus on the core […]