Commercial vehicles provide numerous benefits for businesses, from allowing them to easily make local deliveries to transporting workers and equipment. Once businesses realize how many advantages commercial vehicles can provide, the next question that arises is how to acquire one. The two main options that businesses have when it comes to attaining a commercial vehicle is either renting or purchasing one. Here are some of the main considerations to keep in mind when deciding between renting versus owning a commercial vehicle.
One of the most important factors to consider when deciding whether to rent or purchase a commercial vehicle is cost. If your company can’t afford a large up-front investment, leasing a vehicle is a great option. That being said, depending on the monthly cost of leasing the vehicle and how long you seek to use it for, you may end up spending more money overtime when leasing rather than buying.
In addition, you should also keep in mind there are several ways to reduce the up-front cost of a commercial vehicle. For example, purchasing the vehicle used or buying a salvaged commercial vehicle will significantly reduce the cost of owning your very own vehicle.
Another important factor to consider when choosing between renting versus owning a commercial vehicle is the duration of time you wish to have the vehicle for. If you will only need the vehicle for a few months or even just a year, leasing may be more advantageous since you won’t have to worry about the hassle of selling it when the time is up. You can simply turn it back in.
If you’ll need the vehicle for a substantial duration of time, such as a few years, owning may be more convenient. When you own the vehicle, you won’t have to worry about finding a new one when your contract runs out. You’ll always have the vehicle at your disposal.
Flexibility is another key consideration to keep in mind. When leasing a commercial vehicle, companies can enjoy less commitment as they have the freedom to end their lease at any time they want—usually at the cost of an early termination fee. That being said, leasing a commercial vehicle doesn’t necessarily provide companies with more flexibility. While leasing allows businesses to easily turn the vehicle back in whenever they want, they may be subject to more rules and restrictions when leasing than they would if they owned the vehicle.
If you’re interested in getting a great deal on a commercial vehicle, AE of Miami can help. We offer a wide range of damaged and repairable vehicles—including salvage commercial vehicles for sale at an incredible price. To find a vehicle that’s right for your business, shop our online collection today.