When you’ve committed yourself to a new career as owner-operator of a semi truck, your research should have revealed that there are plenty of financial considerations involved in running your new business—like truck finance for example. The choices you make in acquiring your one critical business asset will make a difference to your operational cash-flow and profitability.
Is it Better to Pay Cash if You Can?
Even if you’re in the fortunate position to be able to buy a semi truck for cash, there are many reasons to opt for a truck finance arrangement instead. The following three top leasing benefits should not be underestimated, since they can all make life easier when you’re a new owner-operator and trying to build a successful business.
Some companies that provide semi truck finance offer step-up leases. A step-up lease enables you to make low payments for an initial period, offset by a higher payment requirement later on, by which time you will hopefully be bringing in more revenue.
Firstly, a specialist truck finance and equipment finance company typically provides leases with built in service and truck maintenance. This means that your monthly outlay in lease payments will be a little higher, but you won’t be faced with the separate costs of keeping your vehicle roadworthy.
That’s a really big advantage in terms of spreading your outgoings and avoiding unexpected, one-off repair bills, which can really put a chokehold on cash-flow. You will also risk less unplanned downtime, since you’ll enjoy a fully comprehensive preventative maintenance program under the terms of your lease agreement.
Secondly, leasing agreements with truck finance companies typically run for three or four years, after which you can start again with another brand new truck. When your business depends on the reliability and condition of your vehicle, regular renewal offers more piece of mind than a truck that gets older and older while enduring the daily rigors of the road.
Lease Your Way to Success as an Owner-operator
Hopefully these three benefits of semi truck leasing have helped you in making your truck finance decision. Whether you choose leasing or a different financing option, Integrity Financial Groups, LLC is here to help you launch a successful owner-operator’s career. To find out more about our many semi truck finance options, contact us today at (801)-386-8222.
- See more at: http://equipmentfinanceservices.com/?p=827&preview=true#sthash.6qBzVoK4.dpuf
Is it Better to Pay Cash if You Can?
Even if you’re in the fortunate position to be able to buy a semi truck for cash, there are many reasons to opt for a truck finance arrangement instead. The following three top leasing benefits should not be underestimated, since they can all make life easier when you’re a new owner-operator and trying to build a successful business.
- Minimal Investment Up-front
- Leasing is a Flexible Truck Finance Option
Some companies that provide semi truck finance offer step-up leases. A step-up lease enables you to make low payments for an initial period, offset by a higher payment requirement later on, by which time you will hopefully be bringing in more revenue.
- No Truck Maintenance Woes
Firstly, a specialist truck finance and equipment finance company typically provides leases with built in service and truck maintenance. This means that your monthly outlay in lease payments will be a little higher, but you won’t be faced with the separate costs of keeping your vehicle roadworthy.
That’s a really big advantage in terms of spreading your outgoings and avoiding unexpected, one-off repair bills, which can really put a chokehold on cash-flow. You will also risk less unplanned downtime, since you’ll enjoy a fully comprehensive preventative maintenance program under the terms of your lease agreement.
Secondly, leasing agreements with truck finance companies typically run for three or four years, after which you can start again with another brand new truck. When your business depends on the reliability and condition of your vehicle, regular renewal offers more piece of mind than a truck that gets older and older while enduring the daily rigors of the road.
Lease Your Way to Success as an Owner-operator
Hopefully these three benefits of semi truck leasing have helped you in making your truck finance decision. Whether you choose leasing or a different financing option, Integrity Financial Groups, LLC is here to help you launch a successful owner-operator’s career. To find out more about our many semi truck finance options, contact us today at (801)-386-8222.
- See more at: http://equipmentfinanceservices.com/?p=827&preview=true#sthash.6qBzVoK4.dpuf