The decision of whether buying, leasing, or renting is best for your business' heavy and medium duty truck or trailer needs is not a quick one.
Our advice to you is to question your current model. Just because things have always been done a certain way, doesn’t mean that your resources are being optimized.
You can choose to outsource all of your transportation needs to a third party. You can even get your decals and logo placed on the third party equipment so you benefit from branding. In this option, you free yourself from the headaches of dealing with equipment and drivers but the price would be your most expensive option.
For many businesses, the expense and loss of control of completely outsourcing transportation has them looking at other options. Should you buy, lease or rent heavy and medium duty equipment?
Deciding whether to rent, lease, or purchase a heavy duty truck or trailer is not easy. There are many factors at play, such as your business size, the hours and kms your equipment gets used, the duration of your need, your own in-house truck and trailer service capabilities, and whether or not you wish to use cash on hand for a down payment. These are just a few of the things to think about in your decision-making process.
Start by determining the real costs of your businesses transportation costs. And we mean all costs. Our experience shows that approximately 75% of small to medium sized businesses do not have a good handle on their costs. Without a baseline of your true costs, it’s very difficult to make the best decision for your business.
At Maxim, we want to give you the tools and information you need to make the best decisions for your operation. Whether you decide to purchase, lease, or rent, we have a Canada-wide team that can provide you with the best solution to suit your needs.
You should BUY if:
You should LEASE if:
You should RENT if: