Why You Should Lease a Box Truck
Fleet managers often pose this question to the professionals at Diamond Mitsubishi Fuso: Should my company lease or buy box trucks?
Our response: It varies with the needs and resources of an individual business. However, for many companies, leasing a box truck instead of purchasing it is the best option.
Leasing a box or cube truck is similar to renting a place to live. Once the rental agreement expires, a renter owns no home but is free to leave, with no more financial commitment.
Leasing a vehicle offers similar flexibility, entailing no long-term financing obligation. That’s important for a company with a delivery schedule that can vary significantly season to season, or for a start-up trying to minimize debt.
Let’s explore a few more reasons why you might prefer to lease instead of buy box trucks:
- Down payments are frequently not required. You can negotiate your down payment. The amount paid up front will determine your monthly payment.
- You can expand your fleet quickly. When orders pick up, your company must be able to take advantage of the opportunity quickly. Leasing enables transportation enterprises to add trucks virtually within hours and keep them available for as long as necessary. Financing to purchase a vehicle or vehicles, particularly for businesses with limited credit, may take several days to arrange.
- Overall, lower costs. A lease agreement requires a monthly payment that is typically less than the payment for an installment loan. Warranties ensure that a business pays little or no maintenance or repair costs.
Visit Our Dealership to Learn More about Leasing Box Trucks
Two other aspects of leasing a cube truck which business owners should keep in mind:
- A lease is not taken into account when lenders use your debt-to-income ratio to determine eligibility for loans.
- Businesses seeking to expand fleets should consider the tax implications of purchasing vs. leasing.
Leasing a box truck is a practical, cost-effective solution for both small trucking companies with limited resources and corporations with sizable fleets.
To speak with a Diamond Mitsubishi Fuso representative about leasing box trucks for your business, call 408-263-7300 today or visit our San Jose dealership at 1505 N. 4th St.