I leased 2019 kenworth T680, 5 year term! Pls input your opinions!

Hi all!

Good morning to all. I previously talked about leasing a truck and now i did.

It has a twice (CAD 914 plus 114 tax ) monthly payment.

Truck had 559000 Kilometers on it.

Lease is 5 yr term, with a 40,000 buyout.

Few things that are truck Nav, radio doesnt work. And headlights are completely burn out, low beam. I asked them to fix these things and they say its my responsibility.

There is no trap in lease though. If i want to, it allows me to just return the truck and they will hold 2500$ for 3 month in case anything comes up from my side side such as any damages or tolls etc.

I am confused. It would be 160k plus by the end of 5yr if i buy that truck and yet they dont want to fix the nav, radio and lights.

What should i do.? Please advise.

 

Supposed to o ask for tepis before singing

 

Are the payments bi-weekly or twice a month? They are not the same thing.
If you already signed the lease then all repairs are on you. You can ask but don't expect the company to do much That stuff should have been discussed before hand.

 

Its biweekly. I do keep asking for details from them but no one reply back. I should have checked truck before signing.

If they keep doing it, i will drop the truck. There isn't any cost for walking away from lease.

 

What about factory warranty.

 

These thing are not in warrenty unfortunatly. but the engine is still.

 

Run away don’t walk away. Learning lesson. You got hooked by not doing your due diligence. Your a sucker and they stuck it to ya

 

By my calculations, this truck will cost you about $110,000 in lease payments only (2 per month x 60 months = 120 payments x $914, plus tax), plus the $40,000 buyout = $150,000.

If you want your own truck, seems to me you should be able to buy quite a good one for less than that, and then at least it's 'yours'..............

 

40,000 buy out? You are a genius my friend. Honestly , because of the guys like you this industry is in deep deep. I hope I retire by the time you guys take over this business completely.

 

It's bi=weekly so 10 extra payments in 60 months. [post 4] and that includes finance charges and fees.
So the real cost for the truck itself is less than 160,000.

Leasing company or finance company, still not your truck until paid for.

70 payments at 914 = 63980 plus the 40,000 comes to 103,980.
Tax, you can pay it now or later depending on if you buy or lease.