Hello,
I'm an owner operator. I own a Mach. I take long hauls. It's been 10 years in trucking. I am planning to buy another truck for short hauls. It's not that i am bored with the long trips, but I wish to settle down and take up small works. I can also eploy a driver for mach.
Now, I'm confused, whether I should lease or buy. If I'm buying, I will need financing. I read a blog on leasing and benefits. Buying VS Leasing: Which Is More Cost Effective? | Truck Loan Center . It is mentioned that leasing is a better option for business with limited resources. I feel that I should lease, as short hauls will be my first time in a very long time.
Please help me decide.

Thanks.

 

I'm unsure about heavy trucking, but how do the terms on leases work?

I would just do a cost analysis of what you would expect to spend on interest, repairs, depreciation and then compare it to the cost of leasing.

Are there mileage limits?
Are repairs covered?
How long do you expect this operation to last?
How important is driving a new truck to you?


I know that if I were a driver I'd be sticking to the 2005 and older trucks... DEF is a PITA

 

Don't rely much on blog articles as everyone's promoting their own business. What if something happens to the vehicle? Do you need to pay extra money for the damage? I am more inclined to buying as it is less stressful, whatever happens, you know the vehicle is yours.