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Next Gen Ford Ranger: Should You Buy, Lease Or Rent?

next gen ford ranger with ute tray and toolbox

For the first time in years, the classic Toyota HiLux has some serious competition in the tradie ute market. The Next-Gen Ford Ranger has faced tremendous demand ever since it was introduced in Australia, pushing the manufacturer to increase production to meet supply issues. With a continued push for more tradie work, you may be thinking about making some changes to your own business. And what better way do so than a new ute like the Ford Ranger. With years of experience in the tradie vehicle space, TradieSpec is here to break down whether you should buy, lease or rent the Ford Ranger and how you can drive one sooner rather than later.

How Much Does It Cost To Purchase a Ford Ranger?

Buying a new vehicle outright is often considered the standard option but as a tradie, there are several factors to think about before committing to a purchase. After all, as a business owner, managing your cashflow is your priority, especially if you need to maintain a fleet of work vehicles.

Advantages of buying include:

  • Being able to avoid debt burden.
  • You can negotiate the price with the individual dealer.
  • You can claim several expenses as tax deductions. E.g. depreciation.

When it comes to buying utes and the Ford Ranger, specifically, there certain drawbacks to the option.

These disadvantages include:

  • A base model Ford Ranger XL will set you back by at least $29,000 plus on road costs.
  • Depending on the dealer, there may be extended waiting times before your vehicle is delivered.
  • Yearly registration, insurance and maintenance costs need to be managed by yourself.

How Much Does It Cost To Lease?

A ute lease is a common alternative to outright purchases as it breaks down the overall cost of the vehicle into regular payments. This is often based on a set contract term over two to three years.

There are several advantages to a ute lease:

  • Regular fixed payments.
  • Maintenance, insurance, servicing, etc. covered by a single payment.
  • Minimise income dedicated to depreciating asset.

However, there are also clear disadvantages that need to be considered:

  • You don’t own the vehicle so you won’t be able to sell it or make any widespread modifications without permission.
  • The final costs may end up the same as a finance loan.
  • A credit check is likely required to obtain a lease.

How Much Does It Cost To Rent?

Ute rentals are a relatively new consideration for tradies, with an emerging range of contract options that provide greater freedom. These flexible rental terms allow businesses to balance their sheets while still being able to get on the road. At TradieSpec, our FlexiRent service provides similar benefits to a lease, with the affordability and ease of a standard rental. Our flexible ute rentals also allow you to fit the vehicle with specifications to meet the demands of your job. With our services, you can drive away in a Next-Gen Ford Ranger, available in cab or tub configurations starting from $431 per week.

Contact TradieSpec today for a free quote on a reliable work vehicle that fits your needs.

At Tradiespec, our mission is to help tradies across Australia with insights and advice to drive your business forward. Whether it’s tips on vehicle selection, how to manage your fleet or insurance information, we’ve got you covered.

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