10 Benefits Of Diverse Fleets
Owning a commercial vehicle outright for your business definitely has its pros and cons, but sometimes having the flexibility of leasing a diverse fleet makes more sense for business owners.
1. You’re not locked into one type of truck
Purchasing a truck is a big investment, which is why so many businesses end up selling them off just a couple years (or even months) down the line. While there is a place for truck ownership, the fact is, the cons outweigh the pros for most businesses–and flexibility is a major point of consideration.
When you lease your fleet, you can choose from any truck on the lot so that your business can get the job done with the right vehicle, every time.
2. You always have access to the latest and safest
Buying a truck means you’re locked in with a major cash investment for years to come and selling it early probably means taking a loss. Regardless, another big consideration for your business comes down to safety features, gas mileage, and other innovations that are rapidly changing in the trucking industry.
Do you want to be locked into equipment that’s outdated or even below-standards in just 2-3 years?
3. You’ll be the first to get new tech
Aside from hybrid engines and other mechanical improvements, the trucking industry is also seeing an advent of new technology. Some of its coming from consumer cars and some of it is being developed from scratch to specifically address the needs of trucks.
As with other upgrades, leasing means you have access to the newest trucks (and tech) on the market.
4. Your insurance rates may be cheaper
Chances are, whoever you lease your trucks from will be able to help you score the best possible insurance rates for your leased fleet. They can also walk you through protection programs and make sure you’re not over (or under) insured for what you do. That means more money in your pocket.
5. Your fleet will scale with your business
You never want to lose business because you don’t have the capacity to fulfill your customers’ needs. Likewise, you don’t want to be stuck with liabilities that outweigh your profit if something were to happen.
When you lease, you can upsize or downsize your fleet with ease.
6. Your business’ image will get a boost
Having a large fleet of trucks is sure to turn heads! Leasing a diverse fleet means always having the right tool for the job and, beyond that, it will help your company look larger and more professional than ever before.
That means it can help bring in more business!
7. You’ll see improved cashflow
When you no longer consider putting a large chunk of money on a downpayment or to buy a truck outright, you’ll instantly notice the benefits of improved cashflow projections.
This means more money to work with in the meantime, like money you can put into marketing and growing your business.
8. You’ll get more support in managing your fleet
Using an established leasing provider means you’ll get access to a number of fleet management tools, including mileage tracking, location tracking, fuel expenditure records, maintenance reminders, and more. They should even be prepared to assist with insurance claims.
All of that means less time spent managing your fleet and more time spent running it, which equates to higher productivity and, in turn, more money earned.
9. You can push administrative tasks aside
The administrative side of truck ownership is tedious and daunting, but when you lease your trucks, you can say goodbye to all those accounting tasks. After all, it’s the vehicle’s owner that’s responsible for ensuring it’s licensed, renewed, and up-to-date with all of the corresponding taxes.
So, as a leasee, you just have to jump in and drive–no more worrying about all the paperwork behind your trucks. Let your leasing company take care of that legwork for you so that you can get more done.
10. Your business will thrive in the long-term
Leasing your fleet opens up the doors to so many opportunities you wouldn’t have if you bought a truck outright. Aside from giving you access to more trucks than a purchasing budget would allow, leasing also takes away many of the “hidden” costs of truck ownership, like those administrative tasks we talked about before.
All things considered, leasing generally works out to be the smartest and most cost-effective option for businesses today. So, why not reach out to a leasing provide to learn more? Suppose U Drive can walk you through the leasing process and give you advice on finding the best truck lease for your company.