June 3, 2019


At Integrity Factoring, we understand that purchasing a new semi can be a significant expense for any trucking company. As with any major equipment, acquiring a new truck typically requires leasing or buying it. What is the wisest investment? Let’s take a look at the following information associated with each financing option to help you make a more informed decision for your business.


Leasing finances the use of a truck, as opposed to a traditional loan which finances the purchase of the actual vehicle. There are various types of leasing agreements available but generally speaking, a lease covers the difference between the purchase price and the projected value of a truck when a lease ends.

One of the biggest difference between leasing or purchasing a truck is what happens when all the required payments have been made. Unlike a purchase, you will not own the truck at the end of a termed lease. However, some leases will allow you to purchase a truck after a lease ends for an additional sum of money. Some leases, on the other hand, allow you to trade the truck in for another vehicle for the remaining cash value.

Keep in mind that depending on the lease you acquire, you could actually end up paying more than what you would have purchasing a truck. Why? You may end up paying for additional mileage incurred along with any wear and tear the truck has sustained when the lease ends. Furthermore, a lease can often include other expenses like non-refundable security deposits and acquisition fees.

While leasing can provide you with some flexible options, that flexibility can come back to haunt you since an outstanding lease on a truck directly impacts your cash flow, taxes, and the ability to replace or increase the fleet of your company


Unless you can afford to purchase it outright, buying a new truck typically involves a traditional loan for the sales amount depending on the down payment you come up with. These type of loans typically set for a time period for consecutive payments that are due each month and include whatever interest rate you were approved for. Unlike leasing, however, this type of financing doesn’t involve nearly as many fees and expenses. It also provides your company with the distinct advantage to establish and grow your credit over time. Furthermore, when you make your last loan payment, your company will gain ownership of the truck.


Things change quickly in the trucking industry. Whether you decide to lease or buy a new truck, it’s important to review your company’s financials to see what makes the most sense for your business. If you’re looking to increase your fleet, Integrity Factoring offers trucking factoring services to help provide you with additional revenue to help make lease or loan payments more manageable. This includes funds to lease or purchase the truck you need to maintain and grow your business. Contact us today at 1.866.834.2746 to find a program that will fit your specific needs.

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