Leasing vs Buying a Truck: Which Option is Best for Your Business?
At Just Trucks, we’ve seen businesses of all shapes and sizes. We’ll weigh the pros and cons of each option to help you get the right finance deal to suit your budget. If you're also in the market for a truck, don't forget to check out our classifieds - featuring thousands of trucks for sale across Australia.
Leasing a Commercial Truck
Leasing a truck can be a great option if you’re looking for flexibility and lower upfront costs. Some businesses prefer leasing because it allows them to access newer truck models without the hefty initial investment. This means you can keep your fleet modern, benefiting from the latest technology and fuel savings.
Another advantage of leasing is the predictability of monthly payments for nearly all expenses. With these set costs, it’s simpler to manage your budget without worrying about unexpected expenses. Often, maintenance packages are included in the lease, which reduces downtime and ensures your trucks stay on the road. Plus, lease payments may qualify as a business expense, potentially offering tax benefits (always check with a qualified accountant to be sure).
However, leasing does have its downsides. Since you don’t own the truck, you won’t build equity, and lease agreements often come with mileage restrictions and penalties for wear and tear which will add more expenses. If you foresee heavy use or plan to keep your truck long-term, these restrictions might not be ideal for your business.
Buying or Financing a Truck
If ownership is important to you, buying or financing a truck might be the way to go. When you own a truck outright, it becomes a valuable business asset. You’re free to use it as you see fit, without worrying about mileage caps or usage restrictions. Over time, owning can also be more cost-effective, especially if you plan to use the truck for several years and maintain it properly. You might even prefer to maintain the truck yourself.
Another advantage of buying is the ability to fully customise your truck. Whether you need specific modifications or branding, owning gives you the flexibility to tailor the vehicle to your exact requirements without the limitations that often come with leasing agreements.
How Just Trucks Can Help with Truck Finance
Whether you choose to lease or buy, finding the right truck finance is crucial. At Just Trucks, we’ve partnered with trusted lenders who specialise in truck finance, offering competitive rates tailored to your business needs. From truck loans to hire purchases, there’s a financial product to suit different situations.
We know that securing finance can seem daunting, but we’re here to make it easier. Not sure what you can afford? Use our truck finance loan calculator to estimate your monthly repayments and get a clearer idea of your budget. Whether you’re looking for a brand-new truck or a used one, we can help you find the right option at the best price.
And don’t forget - if you’re still searching for the perfect truck, browse our classifieds for thousands of trucks available across Australia. Once you’ve found the one you want, our finance partners will work with you to secure a loan with competitive rates.
Ready to Get a Quote?
If you’re still weighing your options, don’t hesitate to reach out. Whether you decide to lease or buy, request a finance quote from our partner lenders. They’ll walk you through the process, ensuring you get a deal that works for you.
