Owner Operator at Old Dominion

This may not be the ideal spot to post this, this is the classified section.

 

2k a month jesus walk away

 

This is at least what most guys with new(er) trucks are paying every month, no surprise here.

Martin

 

leases are scams, read the forum....if you can afford to finance a truck you shouldn't jump into being an OO

 

Besides mountain truck leasing I'd never lease

His best bet is to save some money down and buy a truck. . I've never talked to a happy leaser lol

 

You may want to consult someone like an accountant before making (incorrect) statements like that.
My current truck was done as a trac lease, through Wells Fargo, from the dealer of my choice, on a truck I ordered myself, and I put it where I wanted to.
Lease vs purchase is a tax phrase more than anything else, as it dictates HOW you claim the vehicle in question on your taxes. Lease payments are 100% write off, where a purchase is 20% on a depreciating scale as a rule.
Just because someone is leasing a truck, means absolutely nothing as to what we hear about the lease deals from carriers like CREngland, Swift, Prime, etc.
For me, at the time of year I happened to buy the truck, lease has always been better tax wise.
Maybe get the facts right before making such statements again?

Martin

 

You can also write off 100 percent of the purchase price if you pay cash. And you can claim 100 percent of the finance charge if you take a loan. You can write off all truck related expenses. The time frame may vary. Either way, you can deduct it from your income. So, I don't see the tax advantage of a lease . Bottom line, which one comes out to a lower cost. Add up all the payments on a lease and see what it totals. And you may still not own the truck. if anybody can explain the tax advantage of a lease over a purchase, please do.