Vehicle Leasing Options for Construction Industry

by Jim Peplinski   Posted on Monday, October 21, 2019

Vehicle Leasing Options for Construction Industry

The construction industry in Canada accounts for seven percent of the country’s gross domestic product. The impact the construction industry has on all economic sectors is obvious. To stay competitive and maintain that level of production, construction companies have to find ways to maximize financial resources. One of the best ways to do that with their vehicle fleets is to work directly with experienced, well-connected truck leasing companies.

There are many truck leasing companies in Canada that can provide options for companies operating in the construction industry. Buying vehicles for use in the construction industry requires an immediate cash investment that many companies can’t handle, especially given the often seasonal nature of construction contracts; leasing vehicles becomes an affordable option and a financially tolerable way to defer costs over long periods of use.

When you buy your vehicle fleet outright, you are responsible for all the related costs, from maintenance to depreciation to replacement costs. Leasing through Canadian truck leasing companies, however, offers you – and your accountant – a variety of options to suit your budget and your financial realities, including closed leases and open-ended leases. Both have their advantages that can be customized to suit your business needs and your cash flow. Leasing also comes with tax benefits that truck leasing companies can explain during the process. Working with a leasing company means you’re reaping the benefits of their expertise to help reduce the overall leasing costs of your fleet of construction vehicles.

Construction vehicles need to be durable and must feature the performance requirements to deliver on the job. A truck leasing company can work with multiple manufacturers to ensure you get the right vehicles for the job, offering you vehicle choices from multiple car manufacturers. Working with a single dealership limits your choices. Construction companies don’t always employ vehicle fleet managers, so working with experienced truck leasing companies in Canada can help give you the expertise you need to acquire and manage your fleet.

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