Is lease purchase better with a Husband/Wife team ?

When you buy the depreciation is a major tax right off that doesn't hurt.One of the big benefits of buying.You can't depreciat a lease only payments .lot less flexibility.Lot better off as company then a lease purchase.

 

Doing a purchase right away would save you more in taxes short term but long term a lease could save more in taxes overall. Those lease payments are what the truck is depreciating plus interest. And once you do the purchase at the end of the lease you can depreciate the value left in the truck. It really comes down to the what option has the highest total cost. Highest cost will save you the most in taxes no? I think but Im no tax expert

 

A lease you can only write off your payments you've made that tax year,the interest is in the payments.A purchase you can write the whole amount off price what ever %you need over several years.you can't depreciat a lease.

 

I didn't want to talk about taxes .You said buying new is bad because of depreciation ,you compared it to a new car not the same you can claim depreciation on your truck.

 

I knew a husband and wife team company drivers about fifteen years ago. They saved all their money and paid cash for a $350,000 house back then in Kelowna,BC. Then they got local jobs and started a family.

 

Your exactly right.Theres to much money to make running team for a good company to mess with a lease purchase.Very few make it work, bad odds when compared to team with a good co.Some thing they can win tho.Better of playing the lottery in my opinion .

 

Not true

 

Sir if you in your wife get a lease truck in run as a team it will be the best move you could ever make. Don't listen to these people who tell you otherwise. If you both decide to stick with it you will make tons of money and eventually own that truck and that's more money in your pocket.

 

You sub-lease a truck from Joe Blow Trucking. They have a 5 year lease on the truck based 100k miles a year on a fixed payment with a buy out at the end of the lease.

Team comes along to sub-lease and puts 5 years of miles on the tractor in two and a half years and walk away. The truck has reached it's depreciable value in half the time.

Who covers that loss?

You sir are wrong. I worked in the office for a particular company where the owner did exactly what I posted, he charged more on the truck and trailer lease in order to recoup his potential loss of the accelerated depreciation.

 

My point is why turn the truck back in finish your lease and then own the truck.