6 Reasons Why Contractors Should Lease a Work Truck
Learn why leasing a work truck is better for you and your business
When it comes time for businesses to get a work truck many opt to buy used. Most decision makers see the used truck as a more affordable option, and at face value, they are correct! So why are more and more contractors turning to leasing a truck for business? Why is it a better business move to lease a work truck from Ewald Fleet Solutions?
1. Vehicles depreciate the moment they leave the lot
Whether you buy a new or used work truck one thing remains constant: the second it leaves the lot it depreciates exponentially. A new truck becomes a used truck, and a used truck gains another owner. The initial depreciation of buying a work truck is one of the single largest expenses a fleet manager must anticipate.
Vehicles acquired through fleet organization are typically purchased at a better price and depreciate at a lower rate than non-fleet or “retail” vehicles. By leasing a work truck, businesses reduce the depreciation loss caused by the vehicle pricing.
2. Newer work trucks have better gas mileage
A new 2018 F-150 features a twin turbo Eco-Boost engine, Auto Start/Stop, a 10-speed transmission, an aluminum body and up to 26 miles per gallon. That translates to amazing savings on fuel costs over the life of your vehicle. Compare that to a used F-150 without all the new technology that barely makes 20 miles per gallon and a leased work truck will save your business thousands each year in fuel.
Fuel savings quickly add up when you have a fleet of 5, 20 or even 50 work trucks. New pickup trucks have new technology that improves fuel economy, handling, towing, performance and more.
3. Newer work trucks are cheaper to run
A new leased work truck from Ewald Fleet Solutions is cheaper to run than a used work truck from your local dealer; even if you ignore gas costs. The used work truck from 2010 was driven hard and is showing signs of age. Parts are starting to wear and need to be replaced. Those repairs start to get expensive and add up over time. What’s worse is they come out of your own pocket.
On the off chance your brand new truck needs a repair it is likely covered in the terms of your lease.
4. Leased work trucks will have less wear and tear
One of the most common arguments against a leased work truck we hear is “Well the truck is going to get beat up anyway.” It’s true. Work trucks see more abuse and wear than other vehicles. When fleet managers think of how beat up their work trucks are they typically think of the 8-12 year old model they purchased 4 years ago with two or more owners and a decade of wear and tear.
Leased work trucks see less abuse and hold their value when businesses operate them for a shorter amount of time.
5. Turnkey truck upfitting
When you buy a used work truck you need to attach toolboxes, ladder racks and potentially graphics. This takes time and money. When you lease a work truck from Ewald Fleet Solutions we take care of all the upfitting for you. We deliver your leased work trucks to you ready for use and can roll the cost of the upfitting into your lease. You now have your vehicles set up for a “pay for what you use approach”.
6. Leasing matches actual market depreciation and cost reflection
Say you decide to buy your fleet of work trucks. Some might be from 2015, some might be from 2008. Some might cost $500 a month, others might cost $700 a month. Some trucks might have 50,000 miles on them, some trucks might have 115,000 miles on them. Some might require heavy repairs and others might only need basic oil changes. Using standard account book depreciation seldom matches actual market value depreciation causing losses and accounting changes.
Leasing work trucks from Ewald Fleet Solutions allows your business to standardize vehicles and customize leases to fit actual miles driven. A leased fleet of work trucks is easier to maintain and budget with lower overall operating cost.
Lease Work Trucks in Wisconsin
Ewald Fleet Solutions offers superior fleet services for businesses in Wisconsin and around the country. We work with you to develop the perfect program for your business. Ewald helps businesses with everything from executive vehicles to work trucks with upfitting. We customize fleet plans to save you money based on in-depth analysis of how your business fleet operations work and the financial benchmarks you need to meet.
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