A wide range of industries utilizes fleet trucks on a daily basis. Everything from your local utility company to your florist, you can guarantee that they use a fleet truck as part of their operation.
But did you know that many companies don’t own their trucks? Instead, they opt for full-service truck leasing, otherwise known as full-service leasing, to help keep their operation on track.
Full-service truck leasing is similar but different from the type of lease that you’d take out on a daily driver.
Keep reading to discover the unique benefits that full-service leasing can provide for your business or operation.
What’s Full-Service Truck Leasing?
As mentioned earlier, full-service truck leasing is similar but different from traditional leases.
With a traditional lease, you get the truck, but you’re responsible for everything afterward. A full-service lease includes all maintenance and other services at a set cost.
During the 36 to 84-month lease term, the lessor handles all maintenance and service issues unless caused by negligence or accident by the driver. Once the term completes, the truck is handed back to the lessor, and a new contract is signed.
Little to No Maintenance Costs
The full-service truck leasing benefits are seemingly endless, but you get everything taken care of to sum it all up.
That includes caring for any truck specs, financing, configurations, disposal, and even maintenance!
This way, as a business owner or operator, you receive predictable monthly costs, so no surprise expenses damage your quarterly budget, and extra time to focus on what really matters – increasing sales.
If you already own a fleet truck, you could benefit from contract maintenance. This is, of course, if depreciation isn’t a non-issue for you, but you don’t want to deal with the hassle of keeping your fleet in top shape.
Saving on Depreciation
Like most assets, if you decide to purchase a fleet truck, its value will depreciate over time. Even if you factor in the vehicle’s value at $0 at the end of its life, it might benefit your wallet to sign a lease.
The fact is, even government entities don’t purchase the buildings they operate out of.
If you’re just starting your business, opting for full-service truck leasing can help cut costs across the board.
Factors to Consider
The truth is, a full-service lease might not be the fit for every company out there. You must consider several factors such as financing, truck application, mileage, type of fleet truck, and the opportunity cost.
But this lease is more than a tool to help your business financially. It also serves extremely well as a part of your company’s asset management program.
That’s because it helps maximize your uptime while avoiding the time and money-sucking activities like acquisition costs and vehicle disposal.
Is It Right For You?
The idea of full-service truck leasing has taken hold and expanded in recent years.
In these pandemic-filled times, predictable expenses and residual risk elimination only improve your business overall.
Contact our specialists for a more personalized solution to your fleet truck needs.