Thinking of lease purchasing

Best advice to anyone looking to do Lease Purchase. Have company send/fax a copy of lease to you before you do anything. Take it to a reputable ,and knowledgeable Lawyer that knows about leases, and have him/her read over it carefully. They are able to read the lawyer speak, and to tell you if the lease is good, or does it have lawyer jargon that will do you in. If company is on up and up, they will send you a copy of the lease so you can have your lawyer look it over.

 

la la la leas la la lease p p puurrchase.

 

Lease Purchase is hard living,highstress, and ugly period.

 

hirsch has great truck trick program.

 

Actually Prime's lease purchase isn't all that bad IIRC for brand new truck and brand new APU it's something like $15,000 down and $1,000/wk for 3yrs with a $1.00 balloon payment at the end and you can take the truck and lease it on somewhere else if it doesn't work out at Prime.

 

As always the devil is in the details. Something like doesn't cut it. ($ 15000 down $1000a week for 156 weeks / 3years= $156,000 plus $1 payout . Hmmm 15,000+56,000+1=$171,001.
So iiuc a $145ktruck + 8k = $153,000 So $18,000 interest!
No matter how you look at it. $6000 a year, $500 a month $115.39 a week. Or $16.48 a day, every freaking day no matter what.
Everyone will have thier own opinion on that. Is that not bad or does that suck?

 

Any place I’ve signed onto has sent me a copy of the contract for my inspection, then I’ve had them show me a few settlements so I can see the sort of deductions they take out.
If they won’t do that, I move one.
They are trying to hide something.

 

Good luck!

Sirscrapntruckalot - I have never met a vampire personally, but I don't know what might happen tomorrow. - Bela Lugosi

 

Yup interest sucks but even if going though the dealer you're going to pay it there too along with multiple fees and the cost will probably come out same. Either way Primes L/P isn't all that terrible. Scroll down a couple threads and there's a Celadon driver explaining how he'll pay 300k to get his paid off and I didn't read very carefully but I think the truck might even be used!

 

Friend of my got the first from a dealer with 15% interest.18k interest on a brand new truck is not bad at all.But its easier to qualify for a lease