Semi Trucks: Leasing vs Buying

There are two approaches to adding a semi truck to your arsenal: you can purchase one or you can lease one. Both strategies come with unique advantages. The right approach for you depends on factors such as your budget and your project needs. Below we highlight the key advantages to leasing and buying a semi truck. When you are ready to look at your semi truck options, visit DeBary Truck Sales. Our dealership is located in Sanford, Florida. We also proudly serve those in Atlanta, Georgia.

The Leasing Options

If you decide to lease a semi truck, there are typically two options to choose from. The first is called a minimum lease. When the term ends, you get the option to transition to month-to-month. The second is called a closed-end lease. Here you pay monthly payments for a fixed term.

Both semi truck leasing options have you commit to certain terms. If these terms are not followed, there can be financial penalties. For example, you could get a penalty if you go over the predetermined mileage limit or there is excessive wear to the semi truck.

Perks of Leasing a Semi Truck

There are plenty of reasons to choose to lease a semi truck. First, you'll have lower monthly payments compared to buying a semi truck, which helps save your company liquid capital.

Second, you can get access to the latest and greatest technology. When you lease a semi truck, you can often get this year's model. This means getting a vehicle with cutting edge features, from improved fuel efficiency to a smoother riding experience. You'll encounter fewer performance issues, which also means less lost work time due to the semi truck being serviced.

Third, you'll enjoy fewer administrative tasks. Your company name won't be on the title, registration, or property taxes. This means you won't be stuck dealing with tasks such as tag and license renewal. Instead, you can simply focus on your work.

Perks of Buying a Semi Truck

When you purchase a semi truck, your company fully owns that vehicle. There are plenty of great benefits to semi truck ownership.

First, ownership grants you full control of the semi truck. This gives you improved flexibility in how you use the vehicle. You won't need to stress about exceeding the mileage limit or causing a small ding that will result in a fee from the rental place. Instead, you can use the semi truck however you want without restriction.

Second, you won't be tied to that specific semi truck. Maybe the semi truck you think you need doesn't cut it. If you were leasing the model, you'd be stuck waiting out the year-long lease. When you own the semi truck, you can sell it and purchase a model that is better suited to your needs.

Third, purchasing a semi truck increases your equity. If you sell the semi truck, you can recoup the investment. Or use it to boost your company's worth. This equity can be used to reinvest in your company and help it expand. Buying a semi truck is a strategic way to increase your company's worth.

We hope you found this guide helpful. If you have questions or want to check out various semi truck options, visit DeBary Truck Sales. Our friendly staff is happy to chat with you and help you find the right semi truck approach for your situation. Tell us what your budget is and what your needs are, then we can suggest the models to match. You'll find us in Sanford, Florida, and we also serve those in Atlanta, Georgia.