Why Do You Lease Trucks?
Your fleet strategy defines your approach to delivering your product to your customers in a safe and efficient manner. The decision to lease can be an important part of that overall fleet strategy as well an opportunity to lower capital costs, keep your fleet up to date with the latest technology, gain access to procurement expertise, and reduce your compliance issues such as record keeping and over-the-road safety.
Leasing is a reasonable approach to keeping pace with the ever-evolving transportation industry. But making the decision about whether to lease requires a thorough understanding of the leasing process and all of the options available to you. Some companies opt to outsource their fleet management responsibilities to a full-service lease provider. This can be a great way to allow yourself to stay focused on your core business and minimize disruption to your operation, as long as you recognize that you’re partnering with another company to fulfill a vital piece of your business. When deciding whether you should lease your trucks, items to consider include:
Risk Management - New diesel engine technology, vehicle downtime, and residual risk
Geographical coverage and area of operation support
Financial implications - Capital Preservation, monthly budgeting, and tax depreciation
Operational Support & Expertise - Substitute vehicles, maintenance expertise, and fleet up-time).
Vehicle Specifications – Opting for all the upgraded specifications you want, including important safety features.
It can be a lot of information to wade through on your own. Working with a truck lease consultant can aid in ensuring that the lease agreement is structured appropriately, and will likely improve your relationship with your leasing provider.
Truck lease consulting is a niche service that helps in a number of ways:
Understanding why you lease. As a business owner, you need to know all your options, which is why it’s important to know the pros and cons of leasing a fleet.
Cost assessment. Operational support is paramount, but it also needs to be at a fair market value. A truck lease consultant can help you make sure your costs are in line with market conditions.
Proposal review of leasing providers. From vehicle specifications to contract terms and language, it’s best to have an expert on your side of the table. Remember, it’s not just a truck and a price.
Building a partnership. As a truck leasing consultant, I pride myself on improving the relationship between my clients and their leasing provider. Everyone wins when business is handled professionally, promptly, and appropriately.
Leasing allows companies to focus on what they do best, and outsource some of the component that aren’t mission-critical. Still, there is a lot to navigate when considering and ultimately choosing to lease, and working with a truck lease consultant sets you up for success.