Companies and municipalities struggle with this question all the time. Jack Doheny Company (JDC) has the answers.
Every municipality and commercial infrastructure company is different, so when it comes to renting or buying the truck you need, you should carefully consider the benefits that each option offers. Whether you need an industrial vacuum truck or something else, JDC is here to help you make the best decision.
Buying Vocational Trucks
Here are some things to keep in mind before you make a down payment:
- Availability: On average there is a 10-month wait on all new vocational trucks (this is due to a chassis and worker shortage).
- Cash: Can your organization afford to buy a vehicle outright? Such a purchase could limit other expenditures, such as marketing, overhead, etc.
- Loans: You can take out a loan to buy the truck, but this can deplete your savings. It also requires other choices, such as whether to use loan money for the down payment or pay it with cash on hand.
- Additional Expenses: When you buy a vehicle, you also pay for equipment installation, training, etc.
- Maintenance and Repairs: These also come out of your company’s pocket. You also leave revenue on the table during the downtime caused by the repair.
- Storage: Do your facilities have the room to park these vehicles?
- Depreciation: These vehicles begin to lessen in value the moment you buy one.
Renting Vocational Trucks
Renting can be a great option when you consider these points:
- Availability: Rental trucks are often available immediately, and there is minimal paperwork required prior to getting the truck on your job site.
- Cost: In many cases, it costs less to rent than to buy. Buying is an investment while renting is a nominal expense incurred only as needed.
- Storage: In most rental cases, you use the vehicle for the day then bring it back when you finish the job so you don’t need to plan for storage. If you need it for a little longer, you can make a temporary space to park it until you’re done.
- Maintenance and Repairs: Just call the rental company and they’ll take care of it. In most cases, they can provide you with another vehicle while the other gets fixed.
- Depreciation: Not a factor for rentals.
So, Should You Rent or Buy a Vocational Truck?
The old-school advice on this was simple: Buy if you use the vehicle all the time or rent if you need it for occasional jobs. That advice is not always true, especially with recent changes in the industry. JDC offers short-term rentals, long-term rentals and customized rental programs for these trucks:
- Liquid Excavation
- Vacuum Excavation
- Sewer Cleaning
- Roll Off
- Street Sweepers
- Electric Utility Equipment and More
If you need one of these trucks, call a JDC regional sales rep in your area. We offer solutions for municipalities as well as the industrial cleaning, utility construction and gas and oil markets. Our reps will ask questions to determine the best option for your organization. Just use the contact information below to reach someone in one of our 15 locations. We look forward to helping you!