Vehicle Lease Options for Electrical Contractors

Posted by Jim Peplinski Leasing Inc on October 23rd, 2019

Electrical contractors are rarely seen driving around in the same vehicles as computer repair geeks. That’s because electrical contractors need vehicles and service trucks that can haul tools and equipment, a fact well known to truck leasing companies. 

Companies offering truck leasing services to electrical contractors understand the importance of the right service vehicle to professionals working on electrical jobs. To their credit, more and more electrical contractors are considering leasing as an effective strategy for their vehicle fleets. Truck leasing companies in Canada offer flexibility, convenience and customized solutions for contractors looking to lease. Leasing offers electrical contractors a great way to manage finances related to vehicle fleet costs, especially when it comes to the immediate cash-flow benefits associated with leasing. The simple fact is, buying outright requires significant cash outlay or long-term loans; leasing, on the other hand, simplifies the cost of vehicle acquisition, bringing significant tax advantages and other benefits including easier equipment upgrades when necessary.  

Leasing has become much more than an alternative to typical financing options for acquiring business equipment and vehicles. For today’s savvy electrical contractors, leasing with experience truck leasing companies is an effective business strategy. For starters, truck leasing companies in Canada provide a full suite of services you can’t leave to someone in your company doing off the side of their desk.  An electrical contracting company may employ operations or administration staff, but handling the responsibilities associated with vehicle fleet requires experience. Leasing your fleet is a better option than buying it and working collaboratively with a company offering truck leasing services is a great way to delegate work which is not core to your business. 

Whether you choose open end leasing options or closed-end leasing options, the simple fact is that leasing vehicles will continue to be popular with electrical contractors, because tradespeople often need to work with tight budgets and maximize their cash flow. In today’s competitive environment, it is always important to control operating expenses, and leasing brings a high degree of cost certainly to electrical contractors who may be subject to seasonal fluctuations in the construction industry. Leasing is a great way to keep tighter control on costs while providing the flexibility necessary to meet an ever-changing economic environment.