LEASE VS. OWN: HOW DO YOU CHOOSE? May01

Tags

Related Posts

Share This

LEASE VS. OWN: HOW DO YOU CHOOSE?

Your business is thriving, your fleet is growing, and you are once-again faced with the difficult decision: Should I lease or own my commercial truck fleet? It is an important choice, and sometimes the gap between leasers and owners can feel like a canyon, but choosing to lease or own does not have to be an either-or decision.

Many fleets mix both options to maximize their operations and better serve their customers. Factors such as operation type, truck configurations, organizational preferences, routes, seasonality and financial considerations can influence fleet operators in their decision to lease or buy heavy-duty trucks. There are pros and cons to both approaches. Penske can help you decide what makes the most sense for your business.

Owning Your Fleet

Roughly two-thirds of fleet operators own their trucks. Owning equipment and other hard assets, such as warehouses or property, may be part of company culture or simply a financial preference. Additionally, some companies prefer to own because it gives physical assets and a sense of control over those assets.

There are, however, many hidden costs of ownership in addition to purchase cost such as:

  • On-going maintenance and repairs
  • Maintaining a maintenance shop
  • Recruiting and managing maintenance staff
  • Difficulty attracting and retaining drivers due to poor vehicles
  • Fines due to safety violations
  • Tires, brakes and other consumables
  • Substitute vehicles
  • Tax and licensing

Leasing Your Fleet

Leasing allows many fleet operators to obtain equipment without the upfront costs and credit constraints of ownership. Leasing also reduces the need for a down payment and allows the fleet operator to expense the cost of the vehicle monthly rather than carry its liability on its balance sheet. That means more credit flexibility so the fleet operator can put capital elsewhere. Source:https://www.pensketruckleasing.com/

Call or Click to get 50% OFF for the First Month
Rightnowloads.com
24/7 Dispatching Service 888-852-4238
247support@rightnowloads.com

Protected by Copyscape Plagiarism Software
Load Board

LOAD BOARD FEATURES

Post, Search & Bid on UNLIMITED truck loads
Over 30,000 new loads NO DUPLICATES. Sort by combination of weight, trailer, radius & multiple destinations. Easy to use!
g Owner Operator & Truck Driver Search
Great for Shippers & Brokers! Search Drivers by trailer type and any location. Get Freight Quotes directly from drivers by email.
No Contract Month-to-Month Billing
We have 100% no questions asked Money Back Guarantee policy. You can cancel and renew your membership at anytime.
Mileage & Routing Directions
Calculate dead head miles and total miles of trips. Intergrated Map with US Highways and dirving directions from pickup to deivery.
Credit Score Reports & Factoring
Freight Broker credit score search. Invoice matched with Freight Factoring companies.
Dead Head Mileage Calculator
Calculate dead head miles between trips. Radius search for loads within dead head mile limit.
Bookmark, Notes and Favorites
Easily manage your dispatching services with Bookmarking important shippers or drivers, with custom notes.
Load & Driver Email Notifications
Receive email or SMS alerts of loads or owner operations that match your posted loads or trailer types.
Auto Match Loads & Drivers
After you post your Open Truck or Open Load on the load board you will automatically be matached with drivers or shippers.
Send Load Details to Phone SMS Message
Great for dispatchers! allows for drivers to get info while driving and not stop on the raod. Easy to call back from phone.
Daily Fuel Prices & Locations
Daily current diesel fuel prices at all major truck stop locations.
Upload Forms: Cargo Insurance, W-9, & Permits
Great for dispatching! have all your driver's paperwork ready in one location. Documents can be faxed or uploaded as files.
How To Videos Guides
Step by step video tutorials on how to use all the features of the admin to find loads, find drivers and other resources.
Weather & Road Conditions
Live weather forcast from pickup location and destination. View Current and weekly forecast.