Good lease purchase programs

equity in a truck that is under warranty.

 

he was leasing a brand new truck under warranty

 

"Being under warranty" doesn't mean free from repairs. Run something over, and lose a couple of tires. Or it may take the dealer a week, to repair an "under warranty" truck, with the associated downtime.

 

I am aware of that. But if you are under warranty it makes a difference.

 

and I would add that a company driver faces the same down time when his tire goes too.

 

But the company driver isn't on the hook for the cost of a replacement tire.

 

yes. But a lease purchase driver is building equity in a truck. And it is his tire.

 

The Truck is NOT his, nor is the Tire! The Truck belongs to the Company...period. Less than 10% of L/P's ever go on to actually own the Truck. Most are Leased out numerous times before being sold off by said Company.

Huge difference in what was quoted.