Truck Leasing

PLM INTERNATIONAL, INC.

Ryder System, Inc.

Guide to Truck Leasing

How commercial truck leasing can cure transportation headaches for your growing business
By Greg Canfield

No matter what business you're in, getting the product to the customer in a timely fashion is a critical task. Small business owners often don’t have the resources to do the job themselves, which makes truck leasing an attractive transportation option.

With truck leasing, you avoid the high costs of buying and maintaining an expensive vehicle. You also don’t have to worry about hiring a qualified person to drive in an era when there is a shortage of trained truck drivers and technicians. Having a truck driver and technician on your payroll makes you responsible for ensuring their training is up-to-date, which would be an additional hit to your bottom line.

There are many truck leasing programs and truck leasing companies willing take on the transportation burden for you. The challenge is finding the one that works best for you. Truck leasing prices vary based on a many factors, including fuel cost, mileage, frequency of use and vehicle type.

Here are some things to consider when identifying truck leasing programs that best meet your needs:

1. Know precisely what you require from truck leasing.

2. Examine truck leasing prices carefully.

3. Determine the kind of lease you want.

Action Steps

The best contacts and resources to help you get it done

Know what you want from a truck leasing company Leasing a truck to handle your business is more complicated than renting one to move. Your business may require daily trips or just weekly or monthly trips. The size of the load may vary. The destination might be close by or across the country. Truck leasing prices will be affected by all these factors.

I recommend:  PacLease offers a wealth of information to consider when deciding if truck leasing is the best choice for your business. It also gives examples of leasing options.

Getting the best commercial truck leasing deal Truck leases are not created in a single template, so you must do some homework to protect yourself. Fortunately, there are ways to determine if a price quote is fair.

I recommend:  FreightCenter offers a free service that allows you to get multiple quotes online or over the phone. FreightCenter is affiliated with more than 80 trucking companies throughout the United States. Koch Logistics is a member of NationaLease, an association of independent truck leasing companies. Free quotes are available for customized commercial truck leases.

Understand your leasing options There is a big difference between a full-service lease agreement and truck rental leasing. The former is usually a long-term agreement in which you pay for the contractor to maintain the truck and, if necessary, replace it. Truck rental is a short-term lease where you basically pay for the use of the vehicle. Only you can determine which is best.

I recommend:  IdeaLease gives a thorough explanation of full-service leases and truck renting leases. If you're interested in buying the truck at the end of a full-service lease, you’ll want to be familiar with the Terminal Rental Adjustment Clause (TRAC) lease.

Tips & Tactics

Helpful advice for making the most of this Guide

• Some truck leasing companies will let you use their vehicles to promote your business. Ask if using your own signage is an option.