Is Least-to-Own the Path For Your Business?

Trucking is an industry that calls to entrepreneurs, because it is rare in the amount of opportunity available for individual operators to expand into independent operations with their own employees and, if desired, even a fleet. It requires reinvesting your earnings and knowing how to get the most out of your fees to launch from a driver in someone else’s operation to an independent operator working as a business of your very own. It also requires equipment, which means finding the people who can give you the machines you need affordably.

Is Least-to-Own the Path For Your Business

Lease or Buy?

Purchasing a truck can be a huge investment for an individual, with many new rigs starting well north of $100,000 before you even customize them or buy trailers. This can make entry into the field difficult. Even with a loan, buying a truck of your own means putting up a big chunk of change as a down payment. Leasing tends to be less expensive, with costs that are sometimes even lower than payments on a loan with optimal money down. The issue is that when you lease, you never reach the point where you have an asset that’s paid off and giving you a steady return. You’ll reach a return on investment in most cases, but you will always have the lease overhead.

The Best of Both Worlds

Lease to own lets you start off without the commitment of ownership with a plan to take possession of the truck if it works out, allowing you to transition from the lessee into the owner as you develop your business and feel more comfortable committing to the long-term investment. The best lease to own trucking company will be the one that makes this path clear and helps you along it, so do your due diligence before committing.

Leasing is a good opportunity to try out different kinds of equipment before settling on a best fit, whether you’re talking about maintenance machines or the truck itself. Look into your opportunities today.

Is Least-to-Own the Path For Your Business?
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