Buy or Lease Moving Trucks?

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Hey, my friends, it's Louis Massaro. And welcome to another episode of the Moving Mastery Podcast.

This podcast is all about helping you reach that next level in your moving company.

And we do that by sharing with.

You processes and strategies and ideas that get you thinking bigger on what's possible.

You know, I grew my business from.

Working out of a truck rental yard all the way to $20 million a year. And I want to help share those strategies with you so that you could reach that next level in your business, whatever that is for you. And, you know, it's not all about just making more money. It's about profiting in your business and.

Thriving in your life.

And we do that by, you know, being able to set up those systems, set up those processes so we could step away and work on our business and not be every single day stuck in the grind so that we have some time to enjoy with our families and just enjoy life and the fruits of our labor. And today, I am just so excited to talk to you about something that's gonna help you reach that next level in your business. And it's called Smart Moving Software. This is a company that I co founded with an amazing partner and group of programmers that have just built an amazing platform. You know, this is a software that.

Runs your entire moving business.

Not only runs it, but truly optimizes it. You know, one of the things that I the most is that you have just ultimate clarity into your numbers. I mean, as soon as you log in, you've got a dashboard right there that just tells you everything that's going on. You know, one of the things that I've realized over the years that helps moving companies really get to that next level of success is being able to know their numbers. And, you know, without a system that pulls everything together, it could be really, really challenging. And Smart Moving just has all the reports and all the information dialed in the way that you need it to be. And I'm just so excited to tell you about it. Go check it out, get a demo, go to smartmoving.com, sign up for a free demo, check it out, and listen. If you don't have a CRM in this modern day of moving, you need a CRM. If you've already got a CRM and you're just looking for an upgrade, something that's more streamlined, something that gives you all the tools that actually matter, go to smartmoving.com, check it out. It's gonna help you do everything from the minute you get leads to your sales process. To customer service, to dispatch, to following up with your crews, to handling your numbers and your books and your reports. Everything you need is there in a streamlined, systematic, automated process. And I'm just so excited to be.

A part of it.

I'm so excited to finally have a solution to offer to moving company owners that for years were asking me, louis, what platforms did you use? What softwares did you use? And the truth is, I used a lot of different stuff that I had to tie together because there wasn't something like Smart Moving that allowed me to just do everything in one place. And now that we have that, I mean, we've got customers at all different levels using this software. You know, companies that, you know, maybe they're just starting out, companies that have been in business for 10 years, they've got 10, 15 trucks. We've got nationwide franchises that are running their entire operation off of Smart Moving. So I want you to go check it out today because I'm so excited about it.

It's called Smart Moving Software.

It's get your free demo@smartmoving.com and without further ado, let's jump into this episode of the Moving Mastery podcast.

Financing versus leasing trucks. What do you prefer and why? Great question. So there's no right or wrong answer. Let's just start with that.

It's totally a preference thing. Now, there is, you know, you could do everything by the book of what's the right financial decision. But then there's also convenience, right? Like, I would, you know, on a personal level, like, I like to lease my vehicles because I want a brand new, you know, vehicle, and I want to give it back and get another brand new vehicle in a few years, and I don't want to take care of it. If anything's wrong, I bring it in and they deal with it. Is that the smart financial play? No, the smart financial play on a personal level would be to buy a car that's a few years old with, you know, a few thousand miles on it, buy it after it's already taken the depreciation, and drive it until it doesn't, you know.

Until it breaks down. Right? That's the smart financial decision. So from a trucks standpoint, I always bought trucks. Okay. And I bought them brand new. Right. Which, you know, technically when you buy, you know, if you buy it used, you, you know, it depreciates right away as soon as it comes off the lot. But the problem is with moving trucks, they don't. You can't. It's hard to find them, like, slightly Used, right. They're usually pretty, pretty worn out.

Hey, my friend, it's Louis and I'm just hopping in really quick to remind you to go get your free demo of smart Moving software. Smoot SmartMoving software is a company that I co founded that is quickly becoming the leading moving software in the moving industry. And I'm super excited for you to check it out. So go get your free demo today. Just go to smartmoving.com, that's smartmoving.com and sign up for your free demo and check it out today.

So we would buy them new and finance them, make the payments on them for five years and then run them for another three years after with no payments and then sell them after that. And you know that financially will be over the long term your better move from strictly financial. But you can't, you guys don't just take, you know, the best financial decision into account, right? Because when you own the truck, you also have to take care of that truck. So you have to think about, do I have a mechanic that I can rely on? Do I have a mechanic that I can trust? Do I know anything about trucks? Right? I mean, you know, I had to learn the hard way when, you know, the diesel on one of my trucks froze up or gelled up, I should say. And I had to go prime the truck and, you know, let the little air valve out and sprayed all on my face like, I had to learn that stuff the hard way. And I didn't want to deal with that. But I happened to have good mechanics everywhere that I went. Could I trust them? Eh? Were they padding the bill? Probably right? Were they charging me for stuff that I really couldn't argue because I didn't know enough about the trucks, I'd say. So now with leasing, what's nice about some of these leasing programs that some of the, you know, you know, the Penske's and the riders and these companies provide is that, you know, you get that new truck, you.

You know, can wear and tear. If it breaks down, they give you a new one and the whole truck payment is deductible, right? So when you, when you buy a truck, every payment that you make, right, Only the interest and the taxes on that payment come off your P and L, right? And the rest is paying down your balance sheet. So at the end of the year, when you buy trucks, it can make your P and L look like you've got a lot of profit, but you don't have the money. Like, in other words, you're like, oh, it looks like we're profitable, but yet like the bank account doesn't show that. Whereas with a lease you've got every payment that you pay comes off your profit.

Right.

So it reduces your tax exposure. Now with the. I know I'm getting technical here, but I'm answering the question right? This is the stuff you got to think about with the truck that you buy. You do get to depreciate that which helps reduce your, your tax exposure. That's all based on how you and your CPA choose to do it. So, you know, I would say that, you know, today if I was starting over, I would explore both options. I would talk to my cpa, I would at the time of, when it comes to buy a new truck, you know, look at where you're at and see what you need from a tax standpoint, what your mechanic situation is and then make the decision from there. So I like both ways. I'm not against either one. And that's kind of my scoop, right? My reason why you said what do you prefer and why? That's the reason why. But we did buy trucks brand new and there are trucks that you can get a brand new body with a used chassis. Go to my website, LewisMassaro.com, search put trucks, it's like movers guide to trucks, something like that. Just put trucks in the, the search bar. There's a blog post there with my connections for.

Buying a new truck, buying a new box with a used chassis, and some leasing information as well. I hope that helps you guys.

If you really want to take your business to that next level, then I want to invite you to join us in our moving CEO business program. This is the program where I go live every single month training you on new strategies to implement into your moving business. All new strategies that you could apply to your business to start quickly seeing results. This is the program that we have moving companies from all over the world that join us every single month for live training. Plus they get additional courses, they get tickets to my live events. This is the program that basically keeps our moving CEOs on their toes, keeps them fired up, keeps them working on the things that actually matter, matter in their business so that they have a place to come to every month. Maintain and keep that focus on what they're really working on, what they're really after and what matters today so that they're working on the right stuff. You know, this is where I train on all my latest strategies. The things in marketing, sales, operations, finance, you know, how to manage Your team and leadership, it's all in the Moving CEO business program. And head over to movingceo.com and check out all the different membership options there.

We've got, you know, companies that might.

Just be starting out. We've got companies that have been in business 10 years. We've got, you know, nationwide multi location franchises that are members that come every single month so that they can make sure that they're on top of their A game. Right? We're all, you know, wherever we're at in our business, we need to make sure that we're constantly getting that zap of energy, that zap of new ideas that we can implement. So we're working on the right stuff. We want to work on what matters so that we could profit in our business and thrive in our life, right? It's all about setting up a better quality of life. And once you've got your systems in place, once you've got your processes in place, once you've got your people in place, you're able to manage them and lead them in the right direction, then you're able to take a step back and start to really enjoy the fruits of your labor and the business that you've created. So this program where I teach all of this, it's called Moving CEO Business Program. And you can check it out out today@moving CEO.com so head over there, check out your options and I look forward to seeing you on our next live monthly training where I also answer questions and take feedback and help you reach that next level in your business. It's called Moving CEO Business Program. Check it out at moving CEO.com thank you so much for joining us on the Moving Mastery Podcast and being a part of this amazing community. And until we talk next time, time, go out there every single day. Profit in your business and thrive in your life. I'll talk to you soon, my friend.