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Should I Lease or Purchase my Heavy Truck?

There are many options available for people who wish to acquire a new heavy truck. However, there are pros and cons to each method. Let's take a look at leasing or financing your new truck to help you determine which method is right for you. 


Contrary to popular belief, there are benefits to leasing your heavy trucks. Leasing your truck usually requires less cash upfront and your monthly payments are usually lower than when you finance your truck. Furthermore, you are only locked into a one- to three-year commitment and there is a good deal of flexibility. Finally, there are tax deductions available for you to take when you lease your trucks.

Downsides to leasing include rules and restrictions on how many miles you can drive the truck which translates into less control over how the vehicle is operated. If you wish to terminate your lease early, you will be subject to an early termination fee and forfeit your security deposit. Finally, your insurance rates are usually higher when you lease a truck. 


There are a number of benefits for financing your heavy trucks. The biggest benefit is once you finance your truck, you can add it as an asset on your balance sheet. You can also calculate depreciation on this asset which can reduce your taxable income for the fiscal year. Each monthly payment you make builds equity in the vehicle, you can sell the vehicle at any time and the truck can provide you with an excellent trade-in value if you want to get a new truck. In most cases, the benefits of long-term equity in a truck outweighs the lack of commitment associated with leasing a truck. Finally, you can finance your truck with no down-payment if you have been in business for several years, have reliable cash flow, are buying a relatively new truck and you and your business have a solid credit history. 

The downsides to financing a new truck are if you finance a truck with little-to-no down-payment, you may be underwater on the truck when you want to sell it and it can take time to find the best lender for you and your unique needs regarding loan terms. 

50,000 trucks semi and commercial truck classified site is easy to use so you can find the perfect dealer and truck to fit your needs quickly and easily. They can also help you with all your leasing or financing needs.



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