# leasing a truck?



## Deleted member 27831 (Mar 27, 2009)

I am a new business (1 year) and I am now in the market to buy a truck. I cannot afford the truck I want/need as a new truck. I am leaning towards just buying used, but it doesn't seem I can get _exactly[/] what I am looking for that way.

The only way I can afford a new truck is a lease. But in my line of business I am fairly confident there will be some body damage of some type or another that I would have to pay a fee for if/when I return the vehicle to the dealer. I am planning on keeping it actually, but my vehicle needs might change three years from now.

Anyone ever leased a business vehicle and have any thoughts on that?_


----------



## BC WetCoast (Mar 28, 2009)

In this business market and general economy I would shy away from leases (or other forms of debt). I would buy what you can afford, even if it isn't exactly what you want and then trade when the economy begins to pick up. Remember your lease payments continue, even if your work slows down. And getting out of a lease is hard.

In a lease, you never own the vehicle and at the end of the lease there is always the residual. So if you plan on keeping the vehicle after the lease, you will have to figure how large to set your residual. This will affect your payments. 

Can you get credit for a lease?

I worked for an outfit that had all their equipment (trucks and chippers) leased. I would never do that again.


----------



## Deleted member 27831 (Mar 28, 2009)

I guess I should have been clear. Anything I would buy would be financed. I can only come up with ~$3000 for the down payment, and that's after I sell my old car. I could maybe scrounge up $5000 cash right now but that's only going to buy a POS truck. Leasing would actually mean lower monthly payments then most of the trucks I am looking at.


----------



## BC WetCoast (Mar 28, 2009)

GoodOak said:


> I guess I should have been clear. Anything I would buy would be financed. I can only come up with ~$3000 for the down payment, and that's after I sell my old car. I could maybe scrounge up $5000 cash right now but that's only going to buy a POS truck. Leasing would actually mean lower monthly payments then most of the trucks I am looking at.



I would consider getting a loan rather than a lease. At least with a loan you own the vehicle, whereas in a lease, the leasing company actually owns the vehicle and rents it to you. 

I've been soured on leasing, so that will bias my comments.

Here is a web site that describes the comparison.
http://www.leaseguide.com/lease03.htm


----------



## bowtechmadman (Mar 28, 2009)

I'm in agreement w/ Krusty...if you can't buy it outright then keep workin w/ what you have till you can. Current economic times I wouldn't want to stress a new business w/ added overhead.
Good luck w/ your search.


----------



## TheLumberJack (Mar 28, 2009)

I always try to talk people out of leases.

Buy or save.


----------



## pdqdl (Mar 29, 2009)

I agree.

How can the dealer afford to lease it cheaper than payments on a vehicle you buy? 

1. They stick it to the lessee during the lease.
2. They stick it to the lessee getting out of the lease.
3. They stick it to the buyer going into the final sale.


----------



## blakey (Mar 29, 2009)

Look into taking over someone else's lease, lots of those out there. I saw one for a couple year old quad cab 4x4 Dodge pickup and the payments were under $400 a month. The guy must have put down close to $10,000 down payment or trade. Most of them are high payments because they made no down payment.
Also the leasing companies have realized that the vehicles are worth less at the end so the payments are higher now than they were a few years ago. I have never leased, just my observations.


----------

