If you are thinking of going into business in Texas and heavy duty truck rental is an option, you have quite few things to think about before making a decision like this. For example, are you better off buying a used or new vehicle and should you consider a leasing agreement? Let’s look at some of these options to make your decision a little easier.
Carrier Options
If you drive over the road you may be thinking about becoming an owner operator or independent trucker. But maybe you have tried to obtain financing or checked standard heavy duty truck rental options and you can’t seem to qualify. This could be for a number of reasons but if you have poor credit or very little credit, it can be difficult to get the kind of financing you need without making a substantial down payment. If this is the case, you may want to check with commercial freight carriers in Texas.
Some carriers have as many as three different options. For example, you can:
Lease Purchase
You agree to work for the trucking company and every mile you drive puts so much money towards your purchase. This sometimes called a “drive to own” agreement because after a specific amount of time with the company you will own the truck. Your lease agreement is a way to pay for the truck without the need for a large down payment and regular monthly installments.
Lease with the Carrier
You lease your truck from the freight company yet you are still an independent owner operator. You may need to take out your own insurance and have your own authority. However, it depends on the terms of the lease as some companies may do a great deal of the work for you and take care of things like insurance, fuel taxes, paper work and dispatching.
Another Option for Heavy Duty Truck Rental in Texas
When you do business directly with the carrier for your vehicle you may need to sign a long term commitment. On the other hand, you can lease directly from a dealer and you will not be obligated. The agreement is similar to leasing an auto from a car dealership, except you are leasing a commercial vehicle for business use.
Some dealers offer very attractive lease agreements and with leasing you may not need perfect credit. Plus, you will be your own boss and have complete control over your business and your destiny.
