So, you are finally looking into getting a truck on finance; however, the temptation of buying outright lingers in your mind. Getting a truck is both an exciting and scary time.
There are many questions and tough decisions that need to be made. For instance, you might be able to afford an older truck that has the features you need, but it might lack the thrill and excitement factor that you’d like.
We understand It is not every day you buy a truck, and you’d like the best features to come with it. At Asset Finance Shop we have put together two reasons why it is better to finance rather than buy.
Truck Finance offers Better Cash Flow
Purchasing a truck outright can be a quick drain to your bank’s capital. Purchasing any vehicle is expensive; however, a truck is not just any vehicle. Your bank account will take a hit, and it will take some time before you start making enough to make the purchase worthwhile.
If you take the finance route, you can invest fully in your new business, use the extra capital to invest in your growth. Moreover, getting your truck means having your own business. To be entirely devoted to it, you’ve got to spend money elsewhere rather than just on the truck.
There are more costs you’ve got to worry about; some of these include wages, marketing, overheads, insurance, maintenance and more.
How does getting a truck on finance help?
Well, buying getting a truck loan gives you the freedom to invest elsewhere rather than solely on your new truck. It gives the freedom, security and choice to manage your cash flow better. You will have the option to choose the term of your money, the deposit amount and interest rate. This allows you to see where all your outgoings are.
Furthermore, managing money is an important issue when it comes to the truck business. So much money is spent unknowingly and quick, if your capital is managed well, you can accurately see how much you are making.
Purchasing a truck outright does not allow for this as in the beginning you are continually trying to make back what you have spent.
Get the Truck you want
I can bore you by talking about numbers, finance, and managing your money all day. However, this should be an exciting time as you are looking to get a new truck. Why spend your money getting the cheaper one that your heart does not desire? As a child, we all loved trucks, why not get the truck of your childhood and fulfil your dreams.
To add on, many investments come with being a truck driver. By investments, I am not only talking financially; other factors must be taken into account. These include time, effort and mental well-being. Truck drivers spend on average 8-11 hours a day in their trucks, and it can push over 60 hours on some weeks.
It can be tough and draining, do you know what is even tougher? Well, buying a truck that bores you. Everyone wants to live an enjoyable life, and a lot of our time is in our work and trade. If you don’t invest in getting the best, the majority of the time on the road can be a bore.
It is time to invest in your well-being and getting the truck of your dreams!
To sum up, the choice between buying a truck outright and getting a truck loan is a dilemma every truck owner has once gone through. Let Asset Finance Shop, help you achieve your truck goals, talk to the experts in your industry and see how we can help you get the best truck at the best rate.