Purchasing a truck and trailer for your fleet may seem like an expensive option in the beginning, which is why many small businesses wait until they grow before making such an investment. However, if you can’t afford these vehicles, you can lease them instead. It’s the most cost-effective way to get the vehicle you need without having to make a large capital investment upfront.
What to Avoid When Leasing a Truck and Trailer in Mississauga
It offers an excellent alternative to avoid the hassles of keeping your vehicle maintained and repaired, as well as worrying about depreciation. So, if you’re one of them and are thinking about the truck and trailer leasing Mississauga, here are five things to think about.
1) Your Requirements
Firstly, you must have a thorough understanding of your business’s specific requirements. You should be aware of the sort of truck or trailer you require, as well as its size, cargo capacity, and how often it will be used. It’s best to get advice from an experienced truck and trailer Mississauga company that can help you in determining the best vehicle for your needs.
2) Contract Terms
Next, it’s critical to completely understand your leasing contract’s terms and conditions. Different companies offer various types of contracts, ranging from shorter leases to longer ones. In order to ensure you’re getting the best deal, you should be aware of what’s included in your contract, such as the money factor, residual value, insurance coverage, and any other specific terms.
3) Fees & Taxes
Before you sign your lease, make sure you know what fees and taxes you will have to pay at the start, middle, and end of the agreement so you can estimate your monthly costs. Furthermore, many companies can charge you some hidden fees and other costs, so be careful of them and consult with the company that the contract does not contain any hidden fees.
4) Lease Kilometers/Year
The annual leasing mileage is normally determined by the overall cost of the agreement and is usually measured in kilometers. Your monthly leasing costs will be affected by the number of kilometers allowed in your contract, so you should know how many kilometers you can travel every year or month. You may be required to pay for any overage if the limit exceeds the total kilometers allowed at lease end.
5) Maintenance & Service
Finally, make sure that the lease amount includes the costs for maintenance and service. Ask your leasing company what they provide, as some companies offer full maintenance coverage, while others may only pay for parts. It will help you in getting the most of your investment while maintaining the vehicle in excellent condition.
Metro Truck Group: Your Truck and Trailer Mississauga Experts
If you’re looking for a reliable Hino or Freightliner dealer Mississauga, give us a call at Metro Truck Group. We’ve been in business for a long time and have a great reputation for offering affordable leasing services.
We provide excellent leasing solutions to our customers because we understand how difficult it is to buy a new truck or trailer for an emerging business. Get in touch with us today to learn more about our leasing options and how we can help you.