Should You Buy or Lease Your Next Commercial Truck? Consider the Benefits

Should You Buy or Lease Your Next Commercial Truck? Consider the Benefits

Posted on August 29, 2017

When Woodbridge drivers enter the market to buy a commercial truck, one of the biggest decisions (besides choosing the actual truck) is whether to get a loan or commercial lease. There are benefits to both, and Palmery Motors would like to highlight some of the big ones!

The Benefits of a Truck Loan:

• Here's an obvious benefit: when you get a loan to buy your truck, you own it! When you finish paying it off, your monthly loan payments are done!
• The truck is yours, so there are no kilometer restrictions and you're free to alter or accessories your vehicle as much as you'd like.
• You can resell or trade in your truck any time you choose.

The Benefits of a Commercial Lease:

• You only make payments for the term of your commercial lease, so you don't end up paying full price.
• Monthly payments also tend to be lower on a lease.
• You can upgrade to a newer commercial vehicle every time you sign a new lease. That means driving a newer vehicle every few years.

Need help deciding which option is the best for you? Contact our Finance Centre, and we'll help you throughout the entire process. Start your online finance application today!