Construction vehicle leasing is the process of leasing a construction vehicle for construction purposes. This is a bright alternative to outrightly buying a construction vehicle. Leasing construction vehicle is similar to leasing out a commercial car. The lease contracts usually run up to four to five years after which you may make a balloon payment to procure the vehicle. The lessor maintains and handles repairs of the vehicle. But you will be held responsible for keeping the vehicle in good condition.
In general, if you are not using your vehicle 70 to 80 percent of the time, you will do better off leasing it. If you take up a project which is at a considerable distance from your place, leasing construction vehicle will not cost you much transportation charges.
Advantages of leasing vehicles for construction:
- When you are leasing construction vehicle, you can lease the latest equipment
- You need not have any upfront payment
- Leasing is tax deductible
- In a few cases, you can lease to own
- The leasing company maintains the construction vehicle
- It does not count against your credit
- The leasing company delivers the construction vehicle to your work area, saving you the transportation cost, which will be useful if your job is at a distance from your headquarters.
Construction vehicles cost a ton if you are planning on procuring them. Besides, the cost of maintaining the construction vehicles alone will add up to most of your expenses. Leasing the vehicle will not only give you more storage space but also provide you with the income of maintaining the vehicle, and a few bucks to spare. Managing the vehicles to run alone will require assistance. You can lease the vehicle and still find out ways to improve the efficiency of the construction vehicle.