Lease payment question.

Any capital investment can see depreciation regardless if it is new or not. My trailer I recently purchased for example is 10 yrs old. I will claim depreciation for the next 3 years. Once I can no longer show the depreciation, I will sell it.

 

RUN! That is insane! I used to lease brand new Great Dane dry boxes, assuming this is a dry box, for under $300 a month, and I had scales on them! Any issues, return to the dealer and walk away. Or, pay as you go and you own it at the end, the interest was around 6%. This was a Great Dane Dealer in I think Millbury OH, E&R Trailer Sales I think, just going from memory. Good folks to work with, but this was a few years ago, like 10, so I may be off my rocker...

 

I was just quoted $465/Mo for a long term (6+ months) lease on a new Wabash van for when I add a power unit in February. I personally see no benefit I'm a high dollar lease to own. Lease it on a year to year, take the deductions, and get a new trailer every year.

 

Who are you leasing trailer thru?

 

That $465 a month include maintenance mileage rate?

 

I honestly don't remember, I ended up going a different route. Sorry.

 

Once a person buys equipment it is "new" for tax purposes, regardless of what a previous owner did.

 

I stand corrected. I checked and you are right. I took accounting in the dark ages when we still used pencils and green paper account sheets.

 

At least you took the class lol, I respect some one that can own there mistake