lease or buy

It can go both ways.

Lease can help you with your taxes, but when you have to make repairs your really fixing someone's else truck.

Buying one it yours once the term is over.

Difference in payments for me is approx $500.00 per month payments. I will be paying less buying than I was leasing.

 

BUY! BUY! BUY! Its yours. Period. Leasing cost alot more over time and you still have the same costs involved with repairs and maintenance. Unless your not sure if trucking is what you want to do then a short term walk- away lease may be ok.

 

Depends!!! A lease is essentially a purchase with a balloon payment your are not obligated to pay. You pay interest on the same amount as if you purchase the vehicle. The difference is in the principle payments. Purchase you pay all of it, lease you pay for the estimated part you are going to use. The difference is the balloon/buyout at the end. There can be a considerable difference in the interest charges, usually in favor of the lease.

Now which to do, again DEPENDS! ! ! If you always want to have a newer truck with less maintenance then leasing might be the correct option. If you think you are always going to trade into something newer and always have a payment, likely better to lease. If you are more of the drive it for a long time, are willing to schedule maintenance, have the reserve means to handle repairs, the ability to tell when something is going before it is inoperative then buying is likely the way to go.

There are differences in the tax structures, but should not be the deciding factor on how you put a truck under you.

PS: If you are just starting out the best way is to pay cash and wait for the business to qualify for the truck payments be it lease or purchase.