Buying truck vs Leasing(not what you think)

Hey Frank, Either way you go it can be a winner,

You had mentioned that you don't want to get emotionaly attached,

That's Fine,But You'll be miserable over time....You have to have a form of appreciation or 'attachment' to your truck, or You'll develop the "I don't care,Lazy Driver sigma"Which means all you'll end up caring about over time is starting the truck with the key,)kinda like women driving cars" turn the key and go, If you become THAT guy, you Will LOSE,And lose fast

Believe us,Guys that are out here that become financially successful HAVE to become emotionally attached to our equipment,Not just the Truck,EVERYTHING involved in operating a business

 

I remember this coming up a few years back and you had the same point: I recall I was thinking of it in terms of a fleet leasing extra trucks vs a OO leasing with a buyout.

How do you structure your leases and who do you use for that service? I've never leased anything in my life: so keep the thought in your head that you're explaining it to an inexperienced leaser

Im interested, not sure I'll be leasing or buying anything new very soon...but interested in How a professional has done it.

 

My current lease is through Daimler Financial. Last one was through Wells Fargo Equipment Finance.
Basically anyone that will finance one will do either a trac lease or outright purchase. They are structured for however you want them to be structured. Larger payments smaller buyout, or vice versa.
It fits me, I still "own" it as much as someone doing a purchase, and so on. My accountant also says to do it that way. This is for MY needs though, so everyone is different.
Most think that a trac lease is just a flease deal from a trucking company, when it is actually a financial term.
Work out your needs, and especially when you are planning on buying, and the benefits or downfalls will become clear.

Martin