Here at Wilmar, we have options for small business owners and new fleet managers who need access to quality work trucks at reasonable prices.
If the reality of leasing a company truck is new to you, we'll cover the basics with this article. Know that a lease is always more affordable than a new truck purchase!
Cost is always a concern for any size business. We think National Funding says it best: "Many small business owners simply don't have the cash on hand to purchase new equipment outright or they don't want to create cash flow problems – that's when leasing a piece of business equipment can come in handy...
When your lease term ends, you can choose to renew it, end it or in some cases outright purchase the equipment."
- Leasing is a great option for businesses that are growing, even if that growth is tentative.
Leased Trucks Cost Less Than New Trucks
Your monthly payment on leased trucks will almost always be lower than a payment on a loan for the same truck. That's because you won't be paying the same sort of interest. Fleet leasing companies purchase trucks in bulk and often pay a much lower price and lower interest.
- Every business needs to keep their liabilities low and increase their cash on hand. That's why leasing is becoming so popular!
You probably know that a brand new vehicle will depreciate the moment it drives off the dealership's lot. It becomes "used", and takes an instant depreciation somewhere between $10,000 and $30,000 depending on the price of the truck.
- If you decide to buy new, you'll need to buy that important GAP insurance from your dealer, because your lienholder probably won't pay that difference!
- Leased trucks won't depreciate. You'll never be "upside down" or "underwater" on a loan. You'll never need to buy GAP.
Upfitting is Easy
Whether you buy a brand new truck an older, used work truck, chances are it's going to need some upfitting. Tool boxes, equipment and tow packages aren't cheap!
When you lease a truck you can select a vehicle that already has these options, or get them added for a much smaller investment.
New Trucks Are Cheaper to Run, and Have Better Technology
Leasing a new truck means you'll have access to the newest technology in the cab and under the hood!
- They are more fuel efficient.
- They may need fewer oil changes.
- Newer trucks have suffered less wear and tear, so you'll spend less on repairs and maintenance.
Our fleet maintenance department is here to help you take the best care of these trucks. Unlike a traditional auto shop, we're not there to upsell you on products you don't really need.
Even an older leased truck is probably in better shape than an older used truck you might purchase. Leased fleet vehicles are required to undergo the right maintenance. When you lease a truck, you know it's always had oil changes done on time.
Here at Wilmar Inc, we have options for all kinds of businesses. Whether you're looking to start your first lease, build a micro fleet, or lease equipment, our team is here to help! Headquartered in Charlotte, NC, Wilmar is proud to be the Southeast's largest independent fleet leasing and management company.
Our mission is to deliver customized fleet solutions that help our clients operate their businesses more efficiently.
Checkout our blog for more great fleet truck and equipment leasing topics. Contact us today to learn more about the cost to lease a truck. We'd love to help!
