Wednesday, December 28, 2016

Work Trucks: Buy or Lease?

Photo source: 2016 Silverado-1500

It’s the time of year when you want or need to buy a new work truck. The question that every fleet manager must now answer: Do we lease or do we buy a new work truck? Unfortunately, this question will need to be asked and answered several times. Even after the pros and cons, every financial option and business demands have been weighed, there is always that little voice of doubt- “did I make the right choice?” The answer is never clear cut. Depending on your company’s needs, both options have their advantages.

Leasing Pros:
Lease payments are lower than loan payments
Get a new car every few years
      - Latest safety equipment, technology and warranty
No hassles at the end of a lease
      - Hand over keys if all requirements were met
Additional financial incentives
      - Can be claimed as a tax deduction

Leasing Cons:
You don’t own the vehicle
      - Must be maintained in excellent condition and no modifying
Penalties for wear, tear, and mileage
    - Plan to pay for excessive mileage or poor condition
Depreciation fees at end of lease
Endless payments
      - Could end up paying more in the long run

Leasing a new vehicle has its appeal, but is more restrictive and ultimately more expensive than buying and keeping it for a while.

Whether you lease or buy, Fleetwest has the service body for your fleet work truck. Fleetwest offers both heavy duty steel and fiberglass composite service bodies that are 100% transferable, even fully loaded, with a no holes drilled installation. These units are built to outlast many vehicles. That makes them a better return on investment! Not to mention more efficient and increase technician productivity. It’s a no-brainer decision! Check it out for yourself here. Call for a quote today toll-free in the U.S. at (866) 497 -7200.

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