4 Things to Consider When Deciding to Lease Your Hino Truck

You depend on your Hino to keep your business running smoothly. We know that part of keeping your business on top is making sure your equipment is top of the line and looks as high end and clean as possible. While it would be great to pull out of the dealership with next year’s model every 12 months, this isn’t always a realistic option for all business. If this sounds like you don’t worry, there are other options for you! Leasing your Hino may be a viable solution for you and your business and driving that brand new Hino down the highway could be within your reach.

Speaking with the experts at your local dealership should be the first step towards making this decision but here are four things to consider when deciding whether you want to lease your next vehicle:

1) What do you need out of your Hino: While we all know that a Hino is up to any challenge, you may want to consider how many kilometres you need to put on your vehicle over time and how much wear and tear your vehicle will need to take. You will likely be responsible for maintenance and since the vehicle is not yours, you will be paying to maintain an asset that doesn’t belong to you. You may want to factor that into the cost. Somerville Hino does have opportunities that allow you to build equity through lease agreements, a rare thing in the auto leasing world, if this option works for you, maintenance costs may be worth it.

2) Cost of new vehicle ownership: Buying isn’t for everybody. Not every business is equipped to put forward the money to make a new vehicle purchase. Lease financing can afford you lower monthly payments and free you from making a large down payment associated with purchasing a new vehicle. If you aren’t able to afford the vehicle you need out right, leasing may be a great option for you and your business. Seeking the advice of a financial advisor can help you make this decision. Customer service is Somerville Hino has a variety of financing and service specials to help ease the cost and work with the customer to make sure you get the equipment you need.

3) Replacing your fleet: Your company’s image is important and keeping a top of the line fleet is part of that. While Hino trucks are built to last, sometimes the aesthetics of your vehicle can be almost as important as the way it runs. Leasing allows you to switch into the newest model more easily than if you owned the vehicle because you are not financially tied up in vehicle ownership. When you purchase a new vehicle, it can be daunting to think that you may need to upgrade in the not-so-distant future to keep up a positive public image. Leasing a Hino lets you stay up to date with the latest models and you don’t need to worry about selling the vehicle at the end.

4) Free up some of your cash flow:  Leasing can allow you to keep some of your company’s money in the bank. Avoid making the large down payment by looking into lease agreements. Offsetting some monthly costs may work for you and your business even if leasing isn’t your long term solution to fleet management. It also prevents you from tying up some of you valuable financial liquidity in a depreciating asset.

Leasing can afford customers a variety of flexible options for when purchasing isn’t always in the cards. While there are many things to consider when deciding whether to lease or own your company vehicles, the decision doesn’t need to be as taxing as you think. Talk to an expert financial advisor about the best options available for you. Many variables can influence this decision and speaking with an expert will help you sort through your pro/con list to make the right decision. Whether you choose to lease as you grow your company, or you want to have the flexibility of upgrading your vehicle to the latest model, there are many options to fit your budget and your needs.