Semi Truck Purchase— Full-Service Lease vs New vs Used?

When the old truck gives up the ghost and it’s time for a new one, the question is if it’s better to buy a new truck, buy a used truck, or to full-service lease a truck.  There are benefits and disadvantages to all three depending on the situation.  Here at Jackson Group Peterbilt we offer all three.  In addition to selling new and used heavy-duty trucks, we operate a PacLease division to help those who would like to full-service lease.  PacLease is the preferred full-service leasing service for many commercial businesses because of the size of the operation.  There are more than 500 PacLease locations and over 600 dealer-service locations in the US, Canada and Mexico.  Some of the biggest companies in the world are PacLease customers.

• Pepsico
• Costco
• Walmart
• Boeing

How Does PacLease Work?

Full Service Leasing a truck through PacLease is rather simple. People who full-service lease trucks pay a monthly fee for the use of a truck.  This fee is usually a little less than what you would pay for a payment on a regular truck you purchased.  In addition there is a charge for miles driven.  The overall cost ends up being slightly more than what you would pay for the truck if you had purchased it. 

Reasons to Full-Service Lease a Commercial Truck

So if it costs more to full-service lease a truck than buy to a new one, why would you do so?  When evaluating costs you need to be careful to look at the operating costs in addition to the initial cost of purchasing the truck.  The operating costs of full service leasing a truck is typically far less expensive than purchasing a vehicle and maintaining it with an outside repair company.

·        Truck Maintenance- With PacLease full-service lease vehicles, all the maintenance is included.  The company leasing the truck is only responsible to bring it in.  PacLease has an extensive preventive maintenance program to minimize breakdowns and maximize uptime.

·        Roadside assistance- PacLease offers 24 hour, roadside assistance to all of their customers.

·        Downtime- If your full service lease truck has a mechanical issue that needs fixing, PacLease will provide you with a substitute truck to use until the repairs are done.  Costly downtime will literally become a problem of the past.

·        Customized Solutions- Telematics, Fuel Program, Administrative Services (licensing, fuel tax reporting, HVUT compliance) can all be included in a PacLease full service lease, which eliminates these additional burdens so you can focus on your core business.

Benefits of a PacLease Truck

•        Custom-Spec’d Vehicles

•        Full-Service Leasing

•        Finance Leasing

•        Contract Maintenance

•        Commercial Truck Rental

•        Local Decision Making

•        National Account Program

•        Preventive Maintenance

•        24-Hour Roadside Assistance

•        Customized Fuel Program

•        Vehicle Washing

•        Fuel Tax Reporting

•        Licensing & Permitting

•        Telematics (GPS vehicle tracking)

Reasons to Buy a New Truck 

Warranty, warranty, warranty!  Not only do you get a bright, shiny truck built exactly how you like it, but you also get a number of warranties to protect your new purchase.  A new truck comes with the reassurance that you are starting with a clean slate and a truck that hasn't been abused by previous owners.  You will always know the truck’s service history and the types of loads it has carried.

Reasons to Buy a Used Truck

The initial costs to purchase a used truck is far less than a new truck or a leased one.  Modern trucks are built to run between 500K to 1M miles.  Almost every part on the truck can be replaced or rebuilt.  This extends the availability for used trucks on the market.  If you can find a truck older than 2007, they are not required to have a diesel particulate filter or scr system and have less emissions requirements. This mean fewer trips to the shop for emissions-related check-engine lights and more money in the bank.  The downside to purchasing a used truck is that there isn’t a warranty and they are more prone to substantial engine, drivetrain and suspension problems.

Conclusion

All three options are good in their specific ways.  The most important thing is to carefully evaluate your situation and choose what is best for you and your company.  Whatever choice your make, remember to be safe and thoroughly perform your pre-trip inspections.  Service your vehicle on a regular basis to keep it running at peak performance.