Can I Deduct Depreciation on a Lease-to-Own Semi Truck?

Discussion in 'Trucker Taxes and Truck Financing' started by fireba11, Feb 2, 2012.

  1. fireba11

    fireba11 Heavy Load Member

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    Jul 30, 2007
    Tracy City, TN
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    We have 860k on it now...was 411k when we got it from Lone Mountain. It has a ISX Cummins in it and averages 6.7 MPG. We did do a in frame at 675k, we have 2 burnt pistons and 3 scored liners.
     
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  3. DonM

    DonM Light Load Member

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    Jun 22, 2012
    Southeastern USA
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    The Fuel Mileage sounds pretty decent. How did it burn a couple of pistons? Injector stuck open, or was there any record of having the overhead run? Of course I guess and exhaust restriction could cause that also. Is that an EGR Motor? What did the inframe run you?


    Sorry about all the qustions, I'm thinking about buying a truck and going back into the business. Just trying to get a feel for what costs are these days.
     
  4. fireba11

    fireba11 Heavy Load Member

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    Jul 30, 2007
    Tracy City, TN
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    Not 100% sure how it happened but that summer we had set for a weekend at the Loves in Richmond, KY and it was steamy hot, needless to say we idled the truck all weekend. The truck didn't run right after that. Ended up replacing a cracked air to air cooler and the truck ran better but was never quite the same until we had the in frame done.
     
  5. fireba11

    fireba11 Heavy Load Member

    864
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    Jul 30, 2007
    Tracy City, TN
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    Yes it is a EGR engine and the inframe was around 15k
     
    DonM Thanks this.
  6. jvar4001

    jvar4001 Medium Load Member

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    Mar 4, 2011
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    I'm kinda confused. I heard is better to lease and not buy because is a depresiation asset so you can write off all those lease purchase payments . Very confused is better to lease or not?.
     
  7. Keep on Taxin'

    Keep on Taxin' Bobtail Member

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    Feb 5, 2022
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    No you can't. Your truck has been deducted thru lease payments...
     
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