When you decide to become an owner-operator or a fleet business owner, the first thing that you are going to have to do is find a good vehicle and trailer. Trying to figure out what you want and need can be very challenging. However, once you make your final decision, you have to decide how you are going to finance it. While plenty of drivers decide to buy their truck and trailer, others look at leasing options.
Here are some reasons why you might want to consider leasing your next commercial vehicle.
You don’t need as much cash upfront. When buying a commercial vehicle, you are going to need a significant amount of money for a downpayment. If you are just getting started, you might not have the capital to do so.
You may also have fewer maintenance costs when you are leasing. If you get a full-service lease, you don’t have to worry about repair and maintenance costs. These are going to be covered. You won’t have to worry about doing oil changes, inspections, or any other maintenance on the truck. These can really add up (and quickly if something major breaks on your vehicle).
If you choose a short-term lease, you can try different trucks and trailers until you find the right one for you. You may not really know what you are going to need and, by leasing different vehicles, you can get a better feel for what you like and what you need.
Though most people don’t consider leasing a vehicle, they really should. You don’t need a large downpayment and you may not even have to worry about maintenance costs, which can really add up. You may even try several trucks and trailers out with short-term leases until you are sure that you found exactly what you were looking for!
Don’t hesitate to contact us for all of your commercial truck insurance needs. We offer insurance for commercial trucks in Florida, Georgia, Texas, North Carolina, South Carolina, Tennessee, Illinois, Iowa, and Nebraska.