When your business involves hauling and transportation and you need a reliable truck, you have two primary options: buying and leasing. Each solution has its pros and cons, and the right decision depends on your circumstances. To help you decide whether to sign a truck lease or to purchase your own rig, DeCarolis Truck Rental in Rochester, NY, discusses the advantages and disadvantages of each.

Buying a Rig

If you purchase your rig, you have complete control over it. You are not limited in how you use it or the number of miles you can accrue. You can sell it at any time and upgrade to a new or better model. Once you've paid off the loan balance, if any, you can continue to drive it without the need for additional payments. However, purchasing a rig usually requires a substantial down payment, and your business must be credit-worthy enough to acquire financing. Moreover, along with complete control comes complete responsibility, which includes costly repairs and maintenance.

Truck Lease

A truck lease lets you update your vehicle or your fleet every few years without a large, up-front financial outlay or immaculate credit. It also lets you apply funds elsewhere that you would have used for a down payment on a purchase. Moreover, you let the leaser worry about depreciation. Lastly, if you like the rig, you can often purchase it at a discounted price once the truck lease has expired. However, you must abide by the lease restrictions and continue to make payments until the lease term ends, even if your needs have changed, or else you'll be assessed an early termination fee.

The information above should help you decide whether to buy a truck or to consider a truck lease. If a lease fits your needs, contact DeCarolis Truck Rental. For your convenience, they maintain two locations in Rochester, NY, and have served businesses throughout the Upstate area for 80 years. They offer reliable and affordable truck repairs, rentals, inspections, and maintenance. Call (585) 427-2670 to speak with a representative, or visit their website for location details.