Should you buy new, used, or lease your trucking equipment?

When considering your options to buy new, used, or lease your trucking equipment, there are pros and cons to all three options. It really depends on your business and your situation when determining which option is best. Here is a breakdown of each option that will hopefully make your decision easier.

Option 1: Buying a New Truck 

When buying a new semi-truck, you can spec it out just the way you want, with no wear or tear! It’s made to order and comes with the manufacturer’s warranty. You’ll also enjoy the latest in technology, features, and safety. Every year truck manufactures are pushing the boundaries to increase efficiency and lower emissions. With a new truck you can be more efficient and have more power. You can also enjoy lower interest rates on financing a new truck. TEC Equipment is proud to offer new Volvo and Mack heavy-duty trucks and Hino and Isuzu medium-duty trucks.

Option 2: Buying a Used Truck

The first reason to look at used semi-trucks, instead of new trucks, is the savings you’ll get with lower price. As you know, price is a huge factor in making purchasing decisions and you’ll be able to protect your investment with a used truck warranty. When buying a used truck you’ll enjoy the fact that there is no straight off the lot depreciation verse new trucks which take a big hit the moment you drive off the lot. While interest rates may be higher on a used truck, you can expect lower rates on your trucking insurance. TEC Equipment can sell any make or model of used trucks. This gives you more options to choose from when buying used. TEC Equipment has the West’s largest selection of used heavy- and medium-duty trucks for sale. Since we offer all brands, and a full range of prices, you can find the make, model and year you want to satisfy your needs.

Option 3: Leasing Your Truck

Today, truck leasing is a long-term strategy for many businesses. Leasing provides an umbrella of protection from the risks associated with operating a fleet, large or small. Leasing your equipment will conserve your capital as there’s no upfront cost. You’ll have fixed monthly cost with no unexpected repair cost as maintenance is included in the lease. You’ll also enjoy priority service with leasing dedicated service bays and access to mobile service and repair. Because you don’t own the equipment, you don’t have to worry about disposing of the vehicle when it’s run its course. Before leasing, make sure you are willing to lease for the entire contract period as you will be obligated to lease for the duration of the contract. At TEC Equipment – Leasing, we offer a multitude of options designed to fit your business model to maximize uptime and overall value. Our tailored programs offer solutions to match your fleet’s needs, short or long term, no matter what type of equipment you run.

So Which Option Should You Choose?

At the end of the day, you have some solid options to determine what works best for your business. When reviewing your options, make sure to consider the net cost of the asset, the ongoing cost to maintain the equipment, the flexibility you’d like to have, and how the asset/equity would affect your business. The good news is you don’t have to make this decision alone. Contact one of our 24 locations and let us help determine the best option for you and your business!