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Weighing the Truck Lease vs Own Decision Weighing the Benefits of a Full Service Truck Lease vs Ownership

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Three trucks on rural road

The way a company manages its fleet impacts its overall business strategy and success going forward, with dependability, predictability, and efficient use of capital looming large. This holds true whether you lease or own your fleet.  For many businesses small and large, fleet management is not a core competency, making the decision to operate a fleet in-house even more pressing because of the significant impact it has on customers and the business.

Today’s business environment is full of challenges for fleet owners, and it is only getting more complicated. New emissions technology is making trucks more expensive and complex to maintain. Truck prices, along with associated maintenance and repair expenses, have increased by more than 40 percent. The driver and technician shortage is also hampering fleet owners who need to get products to customers.

With the effect your fleet can have on your business, you have to ask yourself whether it’s better to have a full service lease or own your fleet? Both leasing and owning have their benefits. Deciding which is best for your company depends on many factors: type of operation, truck configuration, managing preferences, routes, capacity, and financing.

When considering whether to lease or own your fleet you should ask:

  • Do I spend too much time and money managing my fleet?
  • Am I up-to-date on the complexities of engine technology, regulations and emissions standards?
  • Can I drive more value from my fleet while gaining time to focus on my business and customers?

Many company owners feel owning their trucks is the only way they can brand their fleet, benefit from tax deductions, and have total control among other things. But, these can all be attained through a truck lease as well.

The truth is, owning, running, and maintaining a fleet can be costly. Unpredictable costs, breakdowns, and unseen risk can take your focus away from your business and your customers. With a full service lease, you get a fleet you can rely on, predictable monthly costs, vehicle replacement opportunity and time to focus on your business.

Through a full service truck lease, your monthly payment can actually be less than what you are paying by owning your fleet. You also limit your risk should your vehicle breakdown, as maintenance is covered.

W.B. Mason has partnered with Ryder for a full service lease since 1981. During the 35+ year relationship, the office supplies giant has benefited from:

  • 99% on-time delivery
  • 2,000 preventive maintenance inspections each year minimize breakdowns
  • Ability to redesign and add custom features to trucks, allowing for easier loading and unloading, while keeping a unique branded look
  • Truck maintenance performed during nights and weekends keeps vehicles on the road making deliveries during regular business hours
  • Procurement power secures replacement vehicles within two hours if a truck goes out of service
  • Over 800 maintenance shop network gives immediate access to fleet management when entering new markets

 

By collaborating with a third-party provider (3PL) for a full service truck lease, you can put the complexities of managing your fleet behind you. With a full service lease you won’t have to worry about acquiring, managing, and disposing of the vehicle. Flexible financing options, vehicle specification, repair and preventive maintenance are also included. 
"Unpredictable costs, breakdowns, and unseen risk can take your focus away from your business and your customers."