Towing is a big and ever-growing industry in the GTA. With so many cars, trucks, SUVs, and other vehicles driving around Toronto each day, some of them are bound to break down. Even commercial vehicles need to be towed once and a while. Whether they are big or small, tow companies need the right trucks and equipment to compete in this crowded industry. Leasing your fleet of trucks can provide significant benefits to tow operators of all sizes.
Here’s why you should consider leasing your tow trucks:
For many tow operators, the most important reason they decide to lease their fleet is that they save a lot of upfront cash. When you purchase or finance a vehicle, the down payment and upfront costs will be significantly higher than leasing the same truck. For small companies this can mean using all the cash they have on-hand or draining a credit line.
When you lease—since you’re avoiding large upfront costs—you’ll likely be able to afford more capable trucks than you would if you were to purchase or finance a vehicle.
When you lease one or more trucks you’re generally committing to a term of only a few years, which means you can plan to gradually grow your fleet and add further capabilities down the road. If all goes well over the next few years, a small company looking for 2 – 3 small tow trucks or flatbed carriers today will likely need larger more capable trucks in the future. When you lease your fleet you’ll have the opportunity to upgrade every few years.
With a lease, depending on the details of your agreement, you can simply return your vehicle and move up to something better and more capable. Once you’re established, as a successful and rapidly growing tow company, you may want to move into towing commercial vehicles which will take larger trucks. You may also have the chance to buy your commercial vehicles outright at the end of the lease if they’re still suiting your business’ needs. Somerville Hino offers flexible commercial lease programs so you can decide what’s best for your business.
Somerville Hino offers a range of truck options that are incredibly well suited to towing. The Hino 258U is a popular platform for flatbed carrier tow trucks, providing a low profile that is ideal for loading and unloading vehicles and equipment, and a J08-WU engine providing you with enough power to haul impressive loads. For a more compact flatbed carrier, the Hino 195 is a cab-over chassis design that can handle hauling most consumer vehicles. When you need to negotiate Toronto traffic, the Hino 195 is the right size with all the hauling and towing capabilities you need.
For more information about leasing contact us anytime. Our leasing team will answer any questions you may have and find the right lease option for your business.