Any kind of business starts with a good transportation system. There are two feasible options for having a good transportation- either you own the vehicle or you lease the vehicle. When it comes to businesses that require heavy scale transportation, the best option for that is a truck. It can be useful to carry a large amount of good in one go and thus that is the best possible option anyone can look for. The only dilemma that arises is the option that you use to own it- lease return trucks or buy it. We will discuss the advantages and disadvantages of both in this article.
Why should you lease a truck?
The most important aspect that lies here is the price that you need to pay for the truck. Buying a single truck will cost you almost the same price that you would pay for leasing about 2 or more trucks, so that is itself a profitable deal for you to lease a truck rather than buying one. It does not only help you in managing costs but also gives you an upper hand in quantity. Whenever you lease return trucks, you do it for a specific time period depending on your needs, and once your lease period gets over, you can either renew the lease or get yourself a new truck and in that way, you can have the benefit of owning multiple truck models without paying a lump sum. These features state that leasing a truck is way more profitable as buying a new one. However, we need to look at the other side of the coin too- the disadvantages.
Disadvantages of leasing a truck
Whenever you lease a truck, you do so for a limited period of time, say a few years, and then your lease contract gets over and you need to return the truck to the owner. So basically, you pay the prize and own the vehicle, but that is temporary. You keep paying for the truck, but do not get ownership over it. If you buy a truck, as you keep making payments, you keep gaining ownership owner it unlike the case where you lease a vehicle. This is the biggest disadvantage that anyone can have in the lease process.
There are a few restrictions that lie while the lease papers are made, a few clauses that need to be followed and they include the distance covered by the truck. There might be a restriction that limits the maximum distance that the truck can travel.
Overall, the disadvantages are not much overpowering and those can be overlooked when the numerous advantages are taken into consideration over leasing a truck.