Loan mountain

152,000.00 new truck
* 20.00% | *0.20 down
-------------
+ 30,400.00

+ 152,000.00 new truck price tag
- 30,400.00 20% down
-------------
+ 121,600.00

+ 121,600.00 principle
* 7.00% | *0.07 sales tax
-------------
+ 8,512.00 actual sales tax

+ 121,600.00 after down payment
+ 8,512.00 sales tax
-------------
+ 130,112.00
* 16.00% | *0.16 apr
-------------
+ 20,817.92 interest

+ 130,112.00 principal
+ 20,817.00 apr
-------------
+ 150,929.00 total
=2870 on truck payment alone. Over 72 months

Now Lone Mountain



Features>>

• Detroit DD15 505HP
• 13 Speed Manual or DT12
• 3.31 Rear Ratio
• Refrigerator
• Television
• Guage Package
• 4 year/500k Factory Warranty
• 2 Year/Unlimited Mile Towing/Roadside service

• No Miles
• 230" Wheel Base
• Raised Roof Double Bunk
• All Aluminum Wheels
• Air Slide 5th Wheel
• Carpeted Sleeper Area
• Premium Seats
• FET Included

Payment Options>>
$11,500 Down, $2,650/60 Months (13 Speed Manual)

$11,500 Down, $2,700/60 Months (DT12 Automatic Transmission)

173,500

No balloon. No buyout.

 

Uhmmm, according to IRS. that type of lease you cannot write off the lease payments. Since there is no balloon payment or buyout. That type of lease is treated the same as being financed thru a bank. Interest and depreciation only. Talk to a transportation tax professional.

 

I do my taxes with ATBS. The lease payments are all write offs . You pay tax when you sell the truck

 

Yeah, I know about ATBS and how they work. Good luck at an audit.

 

Thanks

 

Jonkie you can't multiply $130,112 by 16% and think you're paying 20,817.92. It's far worse, it's annual percentage rate, so if someone was dumb enough to pay 16% on $130,112 for 60 months it comes to $3164.07/mo with total interest $59,732.26.


DATE PAYMENT PRINCIPAL INTEREST TOTAL INTEREST BALANCE
May 2016 $3,164.07 $1,429.24 $1,734.83 $1,734.83 $128,682.76
June 2016 $3,164.07 $1,448.30 $1,715.77 $3,450.60 $127,234.45
July 2016 $3,164.07 $1,467.61 $1,696.46 $5,147.06 $125,766.84
Aug. 2016 $3,164.07 $1,487.18 $1,676.89 $6,823.95 $124,279.66
Sept. 2016 $3,164.07 $1,507.01 $1,657.06 $8,481.01 $122,772.65
Oct. 2016 $3,164.07 $1,527.10 $1,636.97 $10,117.98 $121,245.55
Nov. 2016 $3,164.07 $1,547.46 $1,616.61 $11,734.59 $119,698.09
Dec. 2016 $3,164.07 $1,568.10 $1,595.97 $13,330.56 $118,129.99
Jan. 2017 $3,164.07 $1,589.00 $1,575.07 $14,905.63 $116,540.99
Feb. 2017 $3,164.07 $1,610.19 $1,553.88 $16,459.51 $114,930.80
Mar. 2017 $3,164.07 $1,631.66 $1,532.41 $17,991.92 $113,299.14
April 2017 $3,164.07 $1,653.42 $1,510.66 $19,502.57 $111,645.72
May 2017 $3,164.07 $1,675.46 $1,488.61 $20,991.18 $109,970.26
June 2017 $3,164.07 $1,697.80 $1,466.27 $22,457.45 $108,272.46
July 2017 $3,164.07 $1,720.44 $1,443.63 $23,901.08 $106,552.02
Aug. 2017 $3,164.07 $1,743.38 $1,420.69 $25,321.78 $104,808.64
Sept. 2017 $3,164.07 $1,766.62 $1,397.45 $26,719.23 $103,042.02
Oct. 2017 $3,164.07 $1,790.18 $1,373.89 $28,093.12 $101,251.84
Nov. 2017 $3,164.07 $1,814.05 $1,350.02 $29,443.15 $99,437.80
Dec. 2017 $3,164.07 $1,838.23 $1,325.84 $30,768.98 $97,599.56
Jan. 2018 $3,164.07 $1,862.74 $1,301.33 $32,070.31 $95,736.82
Feb. 2018 $3,164.07 $1,887.58 $1,276.49 $33,346.80 $93,849.24
Mar. 2018 $3,164.07 $1,912.75 $1,251.32 $34,598.12 $91,936.49
April 2018 $3,164.07 $1,938.25 $1,225.82 $35,823.94 $89,998.24
May 2018 $3,164.07 $1,964.09 $1,199.98 $37,023.92 $88,034.14
June 2018 $3,164.07 $1,990.28 $1,173.79 $38,197.71 $86,043.86
July 2018 $3,164.07 $2,016.82 $1,147.25 $39,344.96 $84,027.04
Aug. 2018 $3,164.07 $2,043.71 $1,120.36 $40,465.32 $81,983.33
Sept. 2018 $3,164.07 $2,070.96 $1,093.11 $41,558.43 $79,912.37
Oct. 2018 $3,164.07 $2,098.57 $1,065.50 $42,623.93 $77,813.80
Nov. 2018 $3,164.07 $2,126.55 $1,037.52 $43,661.45 $75,687.25
Dec. 2018 $3,164.07 $2,154.91 $1,009.16 $44,670.61 $73,532.34
Jan. 2019 $3,164.07 $2,183.64 $980.43 $45,651.04 $71,348.70
Feb. 2019 $3,164.07 $2,212.76 $951.32 $46,602.36 $69,135.94
Mar. 2019 $3,164.07 $2,242.26 $921.81 $47,524.17 $66,893.68
April 2019 $3,164.07 $2,272.16 $891.92 $48,416.09 $64,621.53
May 2019 $3,164.07 $2,302.45 $861.62 $49,277.71 $62,319.08
June 2019 $3,164.07 $2,333.15 $830.92 $50,108.63 $59,985.93
July 2019 $3,164.07 $2,364.26 $799.81 $50,908.44 $57,621.67
Aug. 2019 $3,164.07 $2,395.78 $768.29 $51,676.73 $55,225.89
Sept. 2019 $3,164.07 $2,427.73 $736.35 $52,413.07 $52,798.16
Oct. 2019 $3,164.07 $2,460.10 $703.98 $53,117.05 $50,338.07
Nov. 2019 $3,164.07 $2,492.90 $671.17 $53,788.22 $47,845.17
Dec. 2019 $3,164.07 $2,526.14 $637.94 $54,426.16 $45,319.03
Jan. 2020 $3,164.07 $2,559.82 $604.25 $55,030.41 $42,759.22
Feb. 2020 $3,164.07 $2,593.95 $570.12 $55,600.54 $40,165.27
Mar. 2020 $3,164.07 $2,628.53 $535.54 $56,136.07 $37,536.73
April 2020 $3,164.07 $2,663.58 $500.49 $56,636.56 $34,873.15
May 2020 $3,164.07 $2,699.10 $464.98 $57,101.54 $32,174.06
June 2020 $3,164.07 $2,735.08 $428.99 $57,530.53 $29,438.97
July 2020 $3,164.07 $2,771.55 $392.52 $57,923.05 $26,667.42
Aug. 2020 $3,164.07 $2,808.51 $355.57 $58,278.61 $23,858.92
Sept. 2020 $3,164.07 $2,845.95 $318.12 $58,596.73 $21,012.96
Oct. 2020 $3,164.07 $2,883.90 $280.17 $58,876.90 $18,129.07
Nov. 2020 $3,164.07 $2,922.35 $241.72 $59,118.62 $15,206.72
Dec. 2020 $3,164.07 $2,961.31 $202.76 $59,321.38 $12,245.40
Jan. 2021 $3,164.07 $3,000.80 $163.27 $59,484.65 $9,244.60
Feb. 2021 $3,164.07 $3,040.81 $123.26 $59,607.91 $6,203.79
Mar. 2021 $3,164.07 $3,081.35 $82.72 $59,690.63 $3,122.44
April 2021 $3,164.07 $3,122.44 $41.63 $59,732.26 $0.00

 

It doesn't matter. He works for FedEx.

 

Hmm I went sideways on that thank you for the clarification , Cledus. Even at 10 percent it's -


For 60 months .
I would be interested if you could point me to a lender who would do it at below 10 as this works out to 165 k . So LM makes about 8,500 over 5 years . Haven't found a better alternative yet . ( I bought a used 2012 Cascadia myself for About 60 k )

 

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