If you are managing a haulage company, you might be wondering whether to lease or purchase an entire fleet. Each has its own benefits and we are here to help you in choosing which one would be the best option for you. Finance is always an important factor. When you are hiring an entire fleet on lease from a reputable leasing company, you might be saving on expenses but you would be losing out on complete control of the fleet. Read on to find out more on which option is better.

Fleet asset management

One of the major hurdles that you face whilst managing fleet is when you have to consistently replace equipment and optimize costs to improve quality of service. If your business is well-funded then this would not be a problem. However, funding does depend on different aspects which may result in delayed replacement schedules which in turn may affect daily operations.

Funding stability

When you hire a fleet on a lease, you can use operating expense funding instead of capital funding to purchase high-quality equipment. This removes the delay in fleet replacements and doesn’t affect the organizations daily operations.

Equipment lifecycle

If you are purchasing fleet equipment then you would have to look into financial aspects of your business, whether or not you would be able to make the purchase. However, on a lease, since you’re hiring from a firm, it may cost you 20-30% less. Hence you can benefit from some savings.

Specific requirements:

Many lease providers offer specification support. Since the fleet is working with leasing firms, specifications can be simplified and less formal. This can result in more savings.

Equipment maintenance:

With a leasing provider, you get a multitude of options to support fleet maintenance. Maintenance requirements such as support repairs, warranty coordination may also be included.

Equipment disposal

If you are buying fleet equipment, then there’s the problem of disposing of the damaged unit. With leasing equipment, you won’t have to worry about that. Everything would be picked up and disposed of at your convenience.

For more details, contact Trux solutions.