If you’re thinking about taking on the journey of becoming an owner/operator, ownership of your heavy equipment isn’t always needed. Instead, leasing your equipment might be the best route, especially for those just getting their feet wet. Sure, there are benefits to both routes with ownership giving you complete control but at the price of being responsible for every bit of the equipment. Leasing gives you flexibility of acquiring new/updated equipment more often but without having total ownership and asset credits for your business.
Calculate Costs of Leasing vs. Buying
Your road to success can be clearer when you make calculated moves; these consist of both the current expected costs of ownership versus leasing and the costs that can be incurred over the life of the equipment. Those costs include scheduled maintenance as well as unexpected maintenance that with ownership means you’ll cover the bill if the warranty doesn’t. But could be covered if you’re under a lease agreement. This is something that could have a major impact on the ability of your business to continue, depending on its size. Be on the safe side and have your estimated cost calculations be higher eliminating possible sticker shock.
Leasing the Future
Leasing is a great way to get a preview of what your future as an owner/operator could look like. It’s essentially taking a test drive for a few years as you gather data, allowing you to better forecast your needs from the equipment and what you can expect for operating costs year-in and year-out. We would be more than happy to sit down with you and iron out some of these details and let you know what we have seen as typical expenditures that owner/operators can expect both while leasing and if they decide to own outright.
You determine your future in the heavy equipment industry; we would like to help guide you on the smoothest road to accomplishing it! Get in touch with our sales team at your convenience.