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One of the primary benefits is the financial flexibility leasing grants you. While taking a loan out on a trailer so you can purchase it keeps more money in your pocket than buying one outright, it puts your credit and future earnings on the line. The first year or three of acting as an owner-operator and handling your own contracts, even if you largely find loads through a carrier, is risky and stressful. Testing out your business with a less permanent commitment lets you honestly evaluate your position as you get settled into the role of owner-operator without the looming risks associated with a large loan.
Leasing also builds you credit. Many banks are hesitant to consider a business loan for semi-trailers, especially during your first few years of business. Instead of taking a loan with a high-interest rate and harsh penalties, build up your credit and your business's financial strength through leasing. Then you can go to the bank with a clear history of on-time payments and business profits.
Switching your role to owner-operator can be stressful and comes with a lot of changes. Create a business plan where you slowly take on risks and financial liabilities in time with your business's growth and consider leasing for the first years of your independent driving. Go to Country Supply for more specifics about leasing a trailer and how to get started.
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