Leasing truck vs buying outright in cash

I have heard of some people that buy the truck in their personal name and then they lease it back to their LLC or Corporation.

 

If anyone needs a taxes write off I do consulting ! That's kinda of a joke because you don't lease a truck for the tax write off. Most people do a lease because they don't have any money. The cheapest it way is to buy a truck. Just write a check. You can get a loan if you have a down payment. The most expensive is leasing a truck.

Look at Prime Inc they charge something like $4,000 a month to lease a truck. That's kinda expensive, but you can walk away any time you want. It not a good deal for the driver but prime probably does real good. Not just prime but most lease deals are set-up to cover the company leasing the truck. Because if you fail or quit, they get the truck back and lease it to another new driver. Kinda like they are selling a dream of being your own boss but they setup all the terms. I still think the money in leasing a truck is made by the leasing company in the end. Because they sell the truck as a used truck for $40,000 or $50,000

 

When you lease you can deduct the payment. When you purchase you depreciate the cost of equipment, usually over three years.

 

I have no idea. I’ve never bought one that cheap. I’ve always depreciated mine out over three years.

 

One advantage of leasing is the replacement every *** years. You know the cost for the time used, no worry what replacement values are.

 

I think you would use a 179 deduction where you depreciate all of the amount the year you bought it at that small amount.