Lease-Purchase? Do the math.

Um, yeah...that's what I said. Too many people calculate it by month, which doesn't give you the full story. If you're charged by the week, you have to calculate it by the week. And in this guy's case, there were 156 truck payments--three years, ya know.

Dang, the title of the post includes the words "Do the math." Reading is hard.

It's a bad deal, period. You don't have to have perfect credit--I sure don't. But if your credit sucks so bad that NO bank or finance company will give you the time of day, odds are you can't manage/save your money, and you're the last person who should be considering L/O-O/O.

It makes sense for them to starve you at the end of the lease, when they've sucked you dry and there's another sucker to take over the payments when you're just about done.

???

Are you effing kidding me? Anyone who'd sign that is dumber than a lobotomized garden slug. Find me any other lease for any other equipment with comparable terms. Won't happen.

The bolded part of your post, however, makes perfect sense. Anyone who thinks LO/OO is some sort of permanent vacation is going to learn the hard way that it isn't. It's a business, and those who don't run it like one are doomed...but not until they drive the freight rates further down for us all.