Financial Planning: Structure a lease that’s right for you

TORONTO, ON -- What is it that you do best: fix trucks, manage toll payments and fuel taxes, change tires, sell used trucks, or move freight? If you're even a modestly successful fleet in today's market, you're probably pretty good at most of the above, but you probably wish you could devote more time and resources to your core competency - moving freight. About 10 years ago, André Boisvert, vice president and co-owner of Lachine, Quebec-based Trans-West Group, concluded that he was better at transportation and logistics than he was at maintenance and fleet management.

Want a trouble-free rental or lease? It’s in the details

Every piece of equipment comes at a price. Look no further than your accounts -payable department or the bank account for proof. But decisions around renting, leasing or financing involve far more than payment values alone. Those who work with unique equipment spec's or hold onto trucks and trailers for extended periods of time are prime candidates for purchase financing. Every year of service after an asset has fully depreciated is a bonus. Leasing tends to be the strategy of choice for those with shorter trade-in cycles or other plans for business capital. Then there are the rentals to address seasonal or short-term surges in freight volumes, or even temporary storage.