Better to Lease or Buy?

Buy it cash.

 

Buying cash is always preferred but not always feasible. Starting with your purchase you have to know how your gonna run your numbers.
Going thru lone moutain, as a new landstar bco you will get a one time 500 reduced payment for proof of going to landstar. But that, numbers wise is still not a good reason to mortgage a truck unless you have to.
I think two years ago when I talked to them they said the payment is either 550 or 750 a week. And have to have full coverage on it.

 

Talk to your accountant. You can lease thru your local bank with a $1 buy out at the end of the lease.

there are tax benefits to leasing, your accountant can help you threw that part and help you decide what works best for you.

 

Not aware of any local bank that will lease a semi truck to a brand new company, if at all.

 

I think it’s always better to own the equipment vs a lease. You’re spending the money either way, just as well own it when the loan or lease is up. Check with credit unions. I was able to get a personal loan and use it for whatever, and it helped me get my truck purchased (pre-Rona before things were overpriced) so I could get started. It was only $15k though, so if you’re looking for something fancy they might not approve a big loan like that. Best part was, I had the title immediately. If SHTF I still owned my truck, just had to deal with paying the credit union personal loan back.

 

With the lease you are tied up with the company, you are leasing from for the duration of the lease till it is paid off. If you don't mind to be paid whatever they decide to pay, which is below base board usually, go ahead, lease.

Own equipment lets you to choose with whom to work, what to haul, where to, how much you'd go out for.. and the rest of the free choices you'd like to make.

 

It's better not to give up 28-35% by going to Landstarve.

 

If people are happy doing it, why not let them?)

 

Some of us only “give up” 22%
But what do I know, I scrape out a living.