Lone Mountain Truck....financing ????

Discussion in 'Trucker Taxes and Truck Financing' started by MNdriver, Apr 1, 2012.

  1. flood

    flood Road Train Member

    4,168
    4,047
    Dec 25, 2010
    0
    yup.... we had it down to 5 trucks... based on price, millage, drivetrain... truck #1 was a 07 Cummins 500 375,000.... dealer didn't tell me on the phone that it was a repo that needed a IN FRAME..... truck #2 is the one we have
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. silverwolf59

    silverwolf59 Bobtail Member

    14
    5
    May 19, 2012
    sierra vista, az
    0
    is it running good yet flood?? been lookin at the website of lone mountain and think of the 780 ultrashift but so far they say they have the vovlo engine with ultrashift
     
  4. flood

    flood Road Train Member

    4,168
    4,047
    Dec 25, 2010
    0
    it's doing just fine
    has 982K right now HAD 512k when i got it.... thats 470k in 48 months
    only big ticket repairs so far is turbo, egr valves (both) egr cooler, clutch,... the ultrashift has a clutch and it run about $500-$750 MORE than a standard clutch

    other than that just the normal repairs
    still only uses about a gl. of oil every 20K

    i'm very happy with the truck
     
    silverwolf59 Thanks this.
  5. Sphillips38

    Sphillips38 Bobtail Member

    41
    7
    Oct 18, 2016
    24477
    0
    My buddy has leased to own 2 trucks from there.Everthing i read is poijtive for the most part.I've been approved and will be bjying my first truck within the month.
    BTW,Every payment is a tax write off because it is a lease.
     
  6. p608

    p608 Road Train Member

    2,181
    2,993
    Nov 10, 2016
    0
    If you do conventional financing you can depreciate , and you can accelerate the depreciation if you so desire. Don't take tax advice from a used truck salesman.
     
    yb226 Thanks this.
  7. Sphillips38

    Sphillips38 Bobtail Member

    41
    7
    Oct 18, 2016
    24477
    0
    I'm going new,
     
  8. Sphillips38

    Sphillips38 Bobtail Member

    41
    7
    Oct 18, 2016
    24477
    0
    My buddy has been writing off his lease for 2 years.I'm not taking advice from a salesman.I'm taking advice from my friend who uses a reputable C.p.a to do his taxes.
     
  9. Ridgeline

    Ridgeline Road Train Member

    22,711
    122,662
    Dec 18, 2011
    Michigan
    0
    I think you better get one yourself and learn that not all of the lease can always be written off.
     
    p608 Thanks this.
  10. p608

    p608 Road Train Member

    2,181
    2,993
    Nov 10, 2016
    0
    I'll say this and then leave it alone, anybody that leases a truck that is going to be their main source of income is in over their head. They need financial advice not tax advice.
     
  11. Drake.r

    Drake.r Light Load Member

    131
    125
    May 15, 2015
    0
    Don't take tax advice from anyone other than an accountant that knows how much you're making
    The more you make the less you can write off on certain items
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.