Commercial vehicles can be leased like you would lease a personal vehicle. The terms are similar to a traditional purchase with a contract with a time limit, set monthly payments, but a lease differs in that you have the option to buy or return the vehicle when the lease term expires.
Leasing your company’s commercial trucks offers several advantages to your business. The first of these is cost. In general, leasing is cheaper than traditional pay to own commercial loans. Many commercial leases also have a buy option with a set buyout price at the end of the lease term. Secondly, a commercial lease has a lower upfront cost and a lower down payment. Third, with a lease you can trade in the vehicle at the end of the lease term getting a newer truck, this means you always have the newest and best equipment available. Fourth, many leases include other perks for commercial truck loans including regular maintenance without an out of pocket expense. Finally, a commercial truck lease can be easier to qualify for than other automotive loans which can be useful if your credit score is not perfect or your business just opened.
Things to Keep in Mind
Leasing a vehicle keeps more of your capital on hand for other business needs. Having available capital means your business can respond quickly to opportunities.
Commercial truck leasing is a flexible way to provide for your company’s vehicle needs. The ability to trade-in or buy keeps your options open and the easier loan application helps removes the barrier to entry for getting the equipment your business needs.
C&M Motors, NationaLease of San Diego, is your trusted partner in the commercial truck leasing business. A family business with over 37 years’ experience, we stand behind all of our trucks, our service, fabrication, and fleet services. Give us a call to learn more.