To buy or to lease a commercial truck? Each business owner and manager are responsible for making their financial decisions smartly to keep the business thriving. Whether you are a startup or building out an existing fleet, there will be a question to ask yourself.
Is it better to buy a truck & slowly pay off the loans? (OR) To lease the truck with the benefits of maintenance & fleet management services?
For any business, making the profit and saving the extra cost on expenses would be the main priority. Probably, you might know the cost of buying a truck. But what is the cost associated with leasing a commercial truck?
Finally, commercial taxes are the critical expenses that everyone should consider. When you purchase a truck, you may deduct the interest of the loan. However, with leasing you can deduct the entire cost of every leased month from your business tax. This helps you to lower the burden of your overall business taxes.
Thus, Commerical truck leasing is considered as a deductible business operating expense. In this way, commercial truck leasing could save you from ahuge portion of your monthly expenses.