Lease to own means the same thing as rent to own. Lease to own means renting something, and your rent payments go towards buying the thing you were renting. If you pay enough rent that it matches the selling price, you have bought the thing you were renting.
Being on a Lease Purchase program at a trucking company sounds like it is leasing to own the truck because the word Purchase is in the name Lease Purchase. To purchase something means to buy something. But maybe the term Lease Purchase is a misnomer. Maybe the trucking companies that call their leasing program Lease Purchase for some other reason, and Lease Purchase is not lease to own.
On the Lease Purchase program at US Xpress, does one's lease payments on the truck go toward buying the truck so that once one has paid enough lease payments to match the price of the truck, one has bought the truck?
On the Lease Purchase program at most other megacarriers who have a program called Lease Purchase, does one's lease payments on the truck go toward buying the truck so that once one has paid enough lease payments to match the price of the truck, one has bought the truck?
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The only stupid question is the one not asked....
Discussion in 'Lease Purchase Trucking Forum' started by expedite_it, Sep 24, 2020.
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