Anybody leasing from SFI?

Yeah. So the question is, since you can walk away without penalty...Do you want to CONTINUE to overpay? You can't recover what you already paid. That money doesn't exist anymore. But you CAN refuse to continue. You can save what you haven't spent yet. That money DOES still exist. And not only that. You have to think about your quality of life. Just to keep up with fuel and fixed overhead, you will need to run your arse off. Forget about taking a week off. Is that what you want? For what, so you can clear $1500 a week for yourself? Hell, you can make that as a company driver WITHOUT the stress and the headache. Make the change Young Jedi. GET OUT OF THAT LEASE. You are an indentured servant.

 

Good choice Young Jedi...good choice.

 

I'm not here to cheer for SFI or any other leasing agency. However, I would like to point out that leasing a piece of equipment is quite commonplace in the business world if you can't afford to buy outright.
Imagine a guy that has an excavation business and has a job available but he needs one of those gigantic hole diggers. Is he going to pass on the job, or is he going to lease one from the Cat dealer?

Leasing is simply a way to do a job. Most people who lease equipment have no intention of buying the equipment at some point. They just need it to do a job and they don't have the money to buy it outright.

OP said his all in was $1300 a week. He also said that $150 of that was maintenance. What he didn't say was how much was truck and personal insurance, tags, and whatnot. It would be interesting to see the breakdown because I'm guessing that the principal on the lease is in the $800 a week range.
(I'm not trying to bust on the OP, but I do know for a natural fact that there's a WHOLE LOT more stuff built into that $1300).

 

I think it will cost you 5k to turn it in early…. I forget .

And they will nit pic the truck condition

 

I THINK the $5k is payed up front.....and, no you won't get it back.

 

The details are in the small print. Your $700 per week may actually cost you MORE than his $1100 a week.
For instance what wasnt covered uh under warranty? How much did you have to pay for maint/escrow? Was that your money, the companies money, or the trucks money? How much was your balloon or biy out? Could you finance the balloon or did you have to write a check.
So many differences in all these programs.
Weekly payments suck, a singl4 monthly payment is best.

 

Would you not be better off buying and making payments ? After all it has a warranty and extended warranty at extra cost . 5000$ up front for lease couldve went toward down payment . Idk tho . As far as leasing the cat track hoe they will only lease by the month unless a huge job . But there are options .

 

You are really giving bad advice on a subject you are obviously not informed on.trying to compare a lease with a lease purchase is 2 totally different programs The guy who is leasing a excavator or hole digger as you called it for a week.is a totally different from someone lease purchase