Bolstered by increases in both purchase prices and the cost of maintenance, more fleets are turning from ownership to lease. NationaLease as a whole expects to grow its truck fleet by 10%. Also adding incentive is the challenge of finding and retaining good technicians.
In the June 22, 2015 issue of Transport Topics, the Truck Renting and Leasing Association estimates that at least 35% of the class 3-8 market is now leased or rented. Customers are looking to use their capital for expansion rather than equipment acquisition. As leasing lowers the end user’s costs, customers are able to take advantage of the savings in an expanding economy.
Trucks have become incredibly complex requiring additional investment in tooling and technician training. An additional incentive in turning to leasing is the attempt to upgrade to a fuel efficient fleet by utilizing new equipment and the new technologies that comes with the new trucks.