If you’re looking for a commercial truck, you may have an important decision to make, and that’s whether you should opt to buy, hire or build your next truck.
Base your decision on hard facts and the choice usually becomes pretty straightforward.
With the option of new, pre-owned, long term or short term leasing or hire, there are plenty of options out there to suit those looking for such vehicles. Here, we take a look at the benefits of truck hire.
Financials
Whilst money is a factor, it is more complicated than whether you can afford a new truck. If you are looking for a standard vehicle set up, you will have the pick of the market for new vehicles. However, buying new can be beyond the means or unwise for many businesses –particularly for a startup. With a wide choice of pre-owned and leasing options on tippers, skip loaders, trucks and trailers and custom builds available, purchasing need not be limited to new only. Making the correct choice requires understanding how your business will use the new equipment and options to fund your purchase.
Cost comparisons should include maintenance and operating costs, licensing and the initial purchase price of the vehicle. If you buy even pre-owned, you have a potential resale when you no longer need the vehicle, which you won’t have if hiring. Leasing or hiring generally offers an all-inclusive fee that covers maintenance costs and continuity of service during breakdowns.
Purchasing quality used equipment can be cheaper than renting over the long term.
Maintenance
As a vehicle owner, you are legally obliged to maintain it following strict commercial guidelines, so you will face both costs and time for this to happen. Hiring a vehicle removes much of this, you must still ensure roadworthiness, but maintenance responsibility generally remains with the hiring company. You also have the security of a replacement vehicle should a problem occur, so downtime is limited.
Flexibility
If your business needs change regularly, or you are hoping to expand, you may find a purchased vehicle quickly isn’t big or tough enough. Hiring a truck will give you the flexibility to upgrade or change the type of vehicle to meet changing demands without the hassle of selling and investing in something more suitable.Project length may be the deciding factor. For a short term or specialised job, hiring is likely to be the best option. However, if you face unexpected hold-ups or delays, you will incur higher costs and potentially paying for extended hire periods where the vehicle isn’t being used. If you require extended use, may face delays or have several jobs lined up, buying a pre-owned unit will give you a fixed cost from the outset. Purchasing from a reliable dealership will provide you with a quality vehicle ready for work and can give you a guarantee period to offer peace of mind.
Combined Use
If you want a combined home and work vehicle, choosing a Mitsubishi L200 or similar pick-up truck might be the answer. Options including a double cab give you space for passengers or a bed unit! A pick-up is becoming a more popular versatile choice as a family car than SUV’s. As a company vehicle, they can offer benefit-in-kind tax advantages over an executive vehicle also as well as a great choice to pull your holiday caravan.
Conclusion
Buying new is always the most expensive option requiring the most significant initial outlay. Therefore, purchasing a pre-owned unit could be the way to go if you want to be free of hire contracts or need longer-term use. Buying a pre-owned truck still gives you the option of a custom-build or refurbished quality truck for a fraction of the new price. Alternatively, choosing to hire can provide you with the flexibility to change quickly as your business dictates.
