Should You Buy or Lease a Semi-Truck?

A semi-truck is an ideal option for hauling large payloads, which is why many businesses prefer adding them to their fleet. However, before you start exploring options, decide whether you’ll want to lease it or own it. Our experts at Carolina International Trucks have created this guide to help you make your final decision. Read on to learn more, and for more advice, connect with our friendly staff. We have our dealerships in six locations across South Carolina, and we are happy to welcome our customers from Columbia, so reach out today.

The Basics of Leasing a Semi-Truck

For many project owners, leasing a semi-truck is a more advantageous option than buying one. A few of the perks are listed below:

• You need to pay little to no down payment when leasing a semi-truck.
• You end up paying less per month than when buying a semi-truck for your work.
• You aren’t stuck with one model; instead, you can pick a better rig once your leasing term expires.
• Also, you can opt for a more fuel-efficient model and save plenty of money on gas.
• Leasing a new semi-truck means you will have fewer maintenance issues to tackle.

More importantly, since you aren’t the owner, its value depreciation won’t affect you, and you won’t need to bother about dealing with hassles like tag, license renewal, etc.

When leasing a semi-truck, you will need to choose either of the two options—take a minimum lease or opt for a closed-end arrangement. In the former, you can opt for a month-to-month option once the minimum lease period is over. On the other hand, a closed-end lease involves a fixed term and monthly payments.

You'll need to adhere to various terms or get penalized for failing to follow them, irrespective of the option you choose. For example, you may get a penalty if your semi-truck endured excessive wear or exceeded the pre-determined mileage limit.

The Perks of Buying a Semi-Truck

If your project requires you to regularly haul heavy cargo, buying a semi-truck can be the better option for you. To learn about a few of the perks of purchasing a model, read on.

• Owning a semi-truck allows you to replace it if its features don’t match your needs instead of getting stuck waiting out a year-long lease.
• When you buy a truck, you get control of your vehicle, and you can utilize it whichever way you want.
• You have the flexibility to use it whenever you need it and make your deliveries in a more timely and efficient manner.
• You won't have to worry about accidentally exceeding any mileage limits or getting penalized for any dents on your rig.

In addition, buying a semi-truck helps add to your equity, as you can recover your investment by selling your vehicle when you feel it doesn’t suit your needs anymore. You can use the money you get by selling your rig to expand your business.

We can help you select the perfect model for your operations, whether you choose to buy or lease a semi-truck. To get your concerns addressed by our friendly staff, come down to Carolina International Trucks at one of our six locations throughout South Carolina. We proudly serve those from Columbia, so reach out today.