Deciding between box truck leasing vs. buying can be a crucial step to improving your fleet, setting up your client-visiting vehicle with upfitting services, or optimizing your costs for tax season with an improvement to your safety and convenience features. While financing your box truck allows for more flexible maintenance, title ownership, and no mileage or wear and tear fees, the potential benefits you can get from leasing a model – like lower monthly costs, brand-provided administration services, and a better warranty coverage experience – could make taking a temporary contract the more efficient option for your small business. At Jim Ellis Commercial, we work with you to determine whether a financing plan or lease contract is the best option for your business in and around Atlanta, GA.
However, before you get to the financing desk, let’s see why you should buy vs. lease business trucks. Georgia business owners who want to improve their business’s operation should take note.
Let’s say that you want to finance your box truck. This is a common decision by employers in Atlanta, GA, simply because it allows for the easiest access to a title. After several years of monthly payments, you’ll own the rights to your box truck and can refinance, sell, and trade your Chevrolet Low Cab Forward, Ford E-Series, or any other model without any issues. If you are using your hauler as a base of operation for a plumbing, delivery, moving, or specialty service, you won’t have to worry about removing any upfitting or customization to properly return it.
Financing also lets you avoid the specific cons of leasing. For example, if you take a lease contract with a set mileage limit and find yourself bringing your box truck nationwide for a convention or specific client request, you may incur additional fees on your lease payments. Financing doesn’t have that obstacle.
However, financing does have some cons. For instance, you will be more responsible for caring for your fleet of trucks. With financing, you will usually own the work vehicle after its limited warranty runs out. Lease contracts tend to have systems in place to allow you to get lower-cost maintenance deals, while financing plans have more flexible but more expensive service options.
When you shop at our specialized dealership, our commercial truck financing for Atlanta drivers ensures you get crystal-clear payment plans and warranty coverage for your heavy-duty hauler, cargo van, or any other option. Finance a box truck purchase at any of our conveniently located centers, and you’ll quickly see the myriad benefits of utilizing such a well-connected system of work vehicles.
What if you instead want to drive the box truck for a set duration, paying less per month and having the opportunity to return it after a set time? That’s where our commercial box truck leasing program comes in handy. Through these expansive contracts, you’ll browse duration, mileage limitations, interest rates, and other fees to see if any options catch your eye. These offerings usually have a lower up-front and monthly cost than financing a vehicle or paying cash, letting you get a high-end box vehicle at a reasonable price.
However, that’s not to say there are no potential downsides to leasing. By moving from lease to lease on your work trucks, you may end up paying more over the course of decades than you would if you owned the title of each vehicle. Mileage limitations or wear and tear fees might be frustrating if you are doing nationwide deliveries or working for clients in a different state – though we may offer high-mileage limits for that kind of work. Some lease contracts cover maintenance costs, but only if you follow a fixed schedule, which may be difficult if your career takes you far away from official maintenance bays.
Ready to take the next step toward uplifting your business? Your operation could make the choice of box truck leasing vs. buying more straightforward. For instance, if you are in the following businesses, financing may make more sense:
In these cases, getting the title of your vehicle is more appealing. Mileage fees can be overwhelming for long-distance services. If you can’t find a lease with exceptional flexibility – or you believe you’ll need to consistently customize the body and chassis of your model – then you’re part of a business that may see more benefits to financing than to temporary contracts.
However, many businesses that plan on working within mileage limitations can take advantage of the perks of our leasing programs. For example, if you are in the following industries, you may like to update your model every few years to maximize safety and improve customization options.
By choosing a lease for these businesses, you won’t have to worry about nearly as many ownership costs for your trucks. Factors like maintenance, repairs, and sometimes even fleet management software are handled by the work vehicle brand’s business division. You can focus on getting your high-quality service to your customers, but usually, only when you can guarantee you’ll be able to follow maintenance cycles and mileage limitations.
While much of our piece has been focused on whether you want to purchase or contract out a box truck, leasing vs. buying a whole fleet of vehicles follows the same structure. However, as the owner of a large fleet, you may want to ask yourself more pointed questions:
Take the next step for your business with a local team that can guide you through the pros and cons of financing vs. leasing a box truck. Our talented staff will help you find tax deduction opportunities that your operation qualifies for and match them to your preferred payment plan or contract.
Custom order your fleet with us and see why we’re a trusted commercial dealership in Atlanta, GA.
By leasing a box truck, you get the benefits of a highly robust vehicle with huge carrying capacity without committing to a full purchase. You are more likely to be covered by the entirety of your New Vehicle Limited Warranty thanks to our flexible lease durations. Then, you can either return it to our storefront, replace it with a new and improved model, or purchase it outright.
Yes, our lease contracts usually allow you to purchase your truck after the duration ends. We’ll talk to you and negotiate a price point that makes sense considering upfitting costs, add-ons, accessories, mileage, and more to ensure your overall price is within expected margins. Then, we’ll work with your business to find a loan and financing plan with suitable monthly payments and interest rates.
The option varies based on your business’s needs, but generally, a lease will be better for cash flow than a financing plan. Leases are tied to market depreciation, are almost always lower in monthly costs, and are better if you want your company to always be using the most high-end model. However, if you use your vehicle to drive long distances, it’ll be less expensive to finance it.
