How FedEx Contractors are Financing Instead of Leasing Used Trucks
Any tool used for business should contribute in some way to your growth and success. It should save you money, remove roadblocks or increase your profitability. That’s why many FedEx contractors are financing instead of leasing used trucks.
When something goes wrong in your business, you must focus on solutions instead of looking back. For example, if you need to purchase a new vehicle for your business, you should know that FedEx contractors are financing instead of leasing used trucks. This information may help you with your own transportation issues.
What You Need to Know about Financing Instead of Leasing Used Trucks
As a FedEx owner/operator, there are many challenges and stresses that come with managing your fleet of vehicles. You must keep them clean, fueled and operating at optimal efficiency. However, sometimes they break down or you need to expand your business, so it becomes necessary to purchase used FedEx trucks.
This is the time to think about whether financing or leasing used trucks is the better option. First, you must consider matters like cash flow, vehicle replacement cycles and tax objectives.
Leasing used trucks can be compared to a traditional business bank loan. For a truck costing $20,000, you would have to repay that sum, plus interest on each payment, for three to six years.
While you are making these payments, it ties up your cash flow. Plus, with leasing the vehicle, you are paying for its’ use, not purchase.
Why FedEx Contractors Are Financing Instead of Leasing Used Trucks
If you are buying a used truck it is very hard to lease them. Additionally, banks typically require a minimum of 10 percent cash upfront.
Financing Solutions (www.financingsolutionsnow.com) provides the financing or line of credit you need so you can purchase the truck. With financing, you can experience lower acquisition costs, greater control over depreciation, lower insurance costs and tax incentives.
With fast business funding from Financing Solutions, you can get the FedEx trucks you need and not have to sacrifice others areas of your business to find the cash. They work with FedEx contractors all the time so they understand your business processes. Many turn to them again and again to get their FedEx business on the right track.
How to Get Where You Want to Be Instead of Staying Where You Are Now
Even little children know that standing still is unproductive, unchanging and frankly, boring. You must get your business moving toward your future.
One of the first things you should do is to really learn your business. Sure, you may have thoroughly researched your ideal buyer and know your product inside and out but there is much more you must know. To run your business effectively, you need to know things such as your key metrics, risks, competitive advantages and customer acquisition costs. These will help you hone in on your vision and get to the heart of your unique value.
You should also avoid being satisfied with the status quo. Got a good product and happy customers? Don’t stop there. Find out what people want and be the company to provide it. Innovate, push yourself and keep improving. Never stop asking questions.
It’s also vital to have the right amount of FedEx funding, which you can get from Financing Solutions. With their help, you can keep your business in the fast lane.
Financing Solutions LLC is not endorsed by and is not recommended by Federal Express Corporation and Fedex Ground. Financing Solutions LLC is not sponsored by, is not approved by, is not associated with, and has no connection whatsoever with Federal Express Corporation or Fedex Ground.