Lease a Vehicle for Your Mobile Food Business - dummies

Lease a Vehicle for Your Mobile Food Business

By Richard Myrick

When starting your mobile food business, if you don’t have access to a large amount of start-up capital but know you’ll have enough to make payments for your vehicle, you may want to lease a food truck for commercial use.

When buying your truck, you may need more than $100,000 at the time of purchase, depending on the size of the truck and the amount and quality of your equipment. Leasing is a much better upfront value because you can get a similar vehicle for a payment of only $3,000 a month.

Also, commercial truck leasing offers a huge advantage over outright purchases or financed truck ownership in that truck lease payments are tax deductible for your business.

The downside to leasing your vehicle is that at the end of the term, your truck must be turned back in, and unless you plan to pay it off or can put together a lease agreement that has a purchasing option, you’ll basically have to shut down your business until you’re able to find a replacement truck.

Food truck leasing companies exist throughout the United States and Canada. Companies such as Mobi Munch and Road Stoves in the Los Angeles area, in New York, and Miami Trailers in Florida are examples of companies that work specifically within the mobile food industry, and they’ll even ship trucks across the country.

Truck and automotive manufacturers, such as Nissan and Mercedes, also have vehicle platforms that they’ll send out to kitchen builders to retrofit your kitchen equipment prior to leasing the vehicle to you.