In the past, if you needed a big rig, your only option was to purchase one; however, truck and trailer rentals are beginning to increase in popularity. Renting a commercial truck is quite similar to renting an apartment. Within certain restrictions, you have the right to use your truck and trailer rental as you see fit for the length of your lease. Just like when you rent an apartment, the person who leases the truck and trailer to you is responsible for the majority of maintenance and repairs, unless the damage resulted from misuse or neglect.
When you choose to lease a commercial truck, you must make monthly payments on your truck and trailer rental. Leases for commercial vehicles generally range from three to five years. The leasing firm purchases the semi-truck, and then allows the driver to use the vehicle. In some instances, once your rental period is up, you will be offered the option to purchase your full service big rig, instead of returning it. The truck’s purchase price will be determined by its residual value, which is determined by the original paperwork of your truck lease. The principle behind this practice is that the truck’s purchase price would be significantly less than purchasing it outright, quite similar to having a rent to own lease on a home.
Before deciding if a truck and trailer rental is the right option for you, there are several considerations you must take into account. First and foremost, truck and trailer rentals do offer multiple benefits. For example, the monthly payments are lower than those of a traditional loan because you are not paying for the actual cost of the vehicle. A commercial truck release does not require you to make an expensive down payment. Additionally, a commercial truck and trailer rental lease will enable you to avoid accumulating debt and provides you with the option of upgrading to a better model once the terms of your lease have expired. If you do decide to upgrade your truck, you do not have to worry about trying to resell your big rig, which can often be difficult.
At the same time, should you decide to purchase your truck and trailer at the end of your lease period, you will most often end up paying more overall than if you had purchased the truck outright in the beginning. Likewise, if you decide to rent a truck and trailer, then you may be required to purchase additional forms of insurance, and because you are using another business’s equipment, you cannot make modifications to the truck.
If you believe that a truck and trailer rental might be the right option for you, it’s time to get in contact with Wallwork Truck Center of North Dakota. With an excellent fleet comprised exclusively of late model Kenworth trucks, you can choose from a number of full service truck and trailer solutions. Whether you need a short term or long term lease, WallworkNationalease is guaranteed to have exactly what you are looking for.