Leasing Options For Plumbers and Plumbing Companies

By: Quest Auto Lesting   |   02 Oct 2017
plumber tools

To all the plumbers and plumbing companies in the GTA: We salute you. Plumbing is incredibly important in homes, businesses, schools etc. Plumbing doesn’t get the respect it deserves, but we rely on plumbers to ensure we have running water, functioning toilets, and to generally live well. What the public doesn't realize is that, beyond making our lives easier, plumbing businesses have a lot going on behind the scenes. It takes a lot to run any successful business, and when it comes to plumbing, having the right vehicles and equipment is incredibly important.

Downsides to Financing

If you’re a busy plumber who works on your own or a plumbing company, some of your biggest expenses are likely the trucks, vans, and equipment you need to get the job done right. Financing vehicles and equipment often comes with big upfront costs. If you finance a work truck, beyond the down payment you’re going to have significant monthly payments until the vehicles is completely paid off. If you’re rolling in money and have that large down payment handy, great, but if you don’t you’re likely going to have to dip into a line of credit.

Upsides to Leasing

Have you ever considered leasing your vehicles and equipment instead? For an individual contractor or a large plumbing company, there are a lot of upsides to leasing. You won’t need a massive down payment when you lease a vehicle, so you can use that money for other business needs. Your monthly payments are also going to be lower since you’re not paying for the vehicle, just the depreciation that occurs while you have it. Another upside to a lease is you’re not locked into owning a vehicle or a piece of equipment that you won’t need in a few years. As your company grows your needs for vehicles and equipment are going to change. When you opt to lease a vehicle, you simply return it at the end of the lease term. From there you can lease newer, more capable equipment.

At Quest Auto, leasing is our specialty. We have access to a wide range of trucks, vans, and commercial equipment, so before you finance your companies vehicles and equipment, contact Quest and see if leasing is the right move for you. We’re always happy to provide free advice and guidance to our clients

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