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Penske Lease

Discussion in 'Experienced Truckers' Advice' started by supdty93, Jan 19, 2012.

  1. Jan 19, 2012 #1
    supdty93

    supdty93 Light Load Member

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    Oct 14, 2009
    Boston,Massachusetts
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    Pros & Cons about leasing a tractor over keeping your own
     
    supdty93, Jan 19, 2012
    supdty93, Jan 19, 2012
    #1
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  3. Jan 19, 2012 #2
    mgfg

    mgfg Road Train Member

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    No/minimal capital outlay
    Lease payment fully deductable
    Zero maintenance costs
    No trade-in value to worry about
     
    mgfg, Jan 19, 2012
    mgfg, Jan 19, 2012
    #2
  4. Jan 19, 2012 #3
    Mommas_money_maker

    Mommas_money_maker Road Train Member

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    Better look at those mileage deals if you plan on OTR with it.
     
    Mommas_money_maker, Jan 19, 2012
    Mommas_money_maker, Jan 19, 2012
    #3
  5. Jan 19, 2012 #4
    Old Man

    Old Man Road Train Member

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    Your own gets paid off
     
    Old Man, Jan 19, 2012
    Old Man, Jan 19, 2012
    #4
    CHICKENMAN and Mommas_money_maker Thank this.
  7. Jan 19, 2012 #5
    supdty93

    supdty93 Light Load Member

    63
    32
    Oct 14, 2009
    Boston,Massachusetts
    0
    I hear you there on the milage charge. I run for a guy that runs coast to coast. Had a '00 Pete with a 550, cracked a sleeve & he's opting out on doing lease trucks now. Just to mention he has been running 8 older Pete's coast to coast and I guess he's tierd of the upkeep
     
    supdty93, Jan 19, 2012
    supdty93, Jan 19, 2012
    #5
  8. Jan 19, 2012 #6
    mgfg

    mgfg Road Train Member

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    With Penske, Ryder, Idealease and Paclease all doing the same thing the rates are very competitive. Running coast to coast another HUGE advantage is the replacement vehicle coverage. If your lease vehicle goes down and they can't get it back on the road they give you a replacement truck.
     
    mgfg, Jan 19, 2012
    mgfg, Jan 19, 2012
    #6
  9. Jan 19, 2012 #7
    supdty93

    supdty93 Light Load Member

    63
    32
    Oct 14, 2009
    Boston,Massachusetts
    0
    That is a good thing for sure, mfgf. But,would you happen to know the difference on a payment- lease vs your own payment for the same tractor?
     
    supdty93, Jan 19, 2012
    supdty93, Jan 19, 2012
    #7
  10. Jan 19, 2012 #8
    mgfg

    mgfg Road Train Member

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    There's too many variables to answer that question. What's the down stroke on the buy, what's the terms on both, what's the finance rate on the buy, what's the mileage rate on the lease.....see what I mean.
     
    mgfg, Jan 19, 2012
    mgfg, Jan 19, 2012
    #8
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