Do you need a new or used truck? An entire fleet? Business owners in the transport industry understand that transport equipment represents a considerable investment. Having the right vehicles is crucial to getting the job done right. Yet, how can you afford to buy the fleet you need and stay on budget? Luckily, leasing offers a great solution to transport equipment financing. Read on and discover five benefits of leasing your transport equipment.
A simple and quick transport equipment financing application process
There are many advantages to leasing your transport equipment. In fact, applying for transport equipment financing is simple and quick. If you are ready to apply or would like more information, contact a broker. A broker will facilitate the transport equipment financing process because they have thorough knowledge of borrowing criteria. Additionally, they will be able to ensure you get the solution best adapted to your needs. At SFL Leasing Group, the process takes very little time. Simply fill out the application and list the equipment you need and supplier names. Then get an answer within 24 to 48 hours. Once approved, you sign the contract and wait for delivery. Easy as 1, 2, 3.
Leasing your transport equipment provides a certain level of flexibility. Imagine you land a substantial contract that requires the addition of one or more vehicles to your fleet. However, the contract’s term is one year with no guarantee of renewal. What will happen to those vehicles once the contract ends? Fortunately, the duration of lease agreements varies between 12 and 84 months. Furthermore, different lease options are available to clients: leasing with or without the option to buy. As such, leasing provides more financial flexibility and less upfront financial commitment.
Transport equipment financing allows you to conserve your working capital
By leasing your transport equipment, you are not buying all that equipment up front. That means you can hold on to your cash for other business opportunities. With regular monthly payments, you will have more flexibility to grow your business. Furthermore, you will not need to dip into any cash reserves. And fixed rate payments help you plan your monthly budget more accurately.
Save on taxes
You will save by leasing your transportation equipment. For example, if your business is located in Canada, the purchase of a vehicle is subject to provincial and federal sales tax. However, if you lease equipment there is no sales tax payable on the acquisition of equipment. Moreover, monthly lease payments are considered an operating expense. As such, they are tax deductible.
Easily upgrade equipment
When you apply for transport equipment financing, there are several options available. Most important is the option to upgrade equipment. Once your lease agreement ends, you can easily upgrade to the latest equipment and keep your fleet running smoothly.
If you need new or used trucks, leasing provides a flexible and beneficial solution. The transport equipment financing application process is simple and quick. Furthermore, leasing provides tax savings, the ability to upgrade your fleet, and lets you hold on to your capital. If you would like more information on transport equipment financing or are ready to apply, contact an SFL broker today. The road to success is just a few clicks away!