Leasing vs Buying

Have you ever considered telling people what they want to hear instead of trying to be reasonable?

 

Love those RAC TV's with like 70% interest haha good one TripleSix

 

But that TV is only 10 bucks a week!....for the next 127 years.

 

To answer your question, leasing vs buying is always going to depend on your personal situation, whether car or truck. There is no one size fits all answer, that is why they both exist.

The terms and length of the lease would be completely dependent on the company you lease from. If it is a trucking company, it will likely be no credit check. That means higher payments. However, it also means they will likely report to the credit bureaus because their goal is for you to buy a truck and remove the liability from them.

There are companies you can lease from that do not run credit checks and do not report to the credit bureaus. There are also those that take down payments, but you get a lower payment in return.

The best thing to do is to learn the industry and how it works first and foremost. It is rarely exactly what someone is expecting when they come in. The last thing you want to do is bite off more than you can chew.

 

Lol I always like having these car lease vs buy conversations. I look at it this way. I leased a Chrysler 300s for $250 per month for 24 months with 0 down. My friend bought an used BMW for 24k. Now, two years later he can't sell it for 17k. We both are out of pretty much the same money, but I did not have to bother with repairs and stuff and drove a brand new car.
There is a reason car leasing is so popular.

 

I had a job a few years back where the boss rented out an on site apartment to another driver (bad idea, not my call though) and when things went south and the guy lost his job, and he stops paying for everything, the local rent a center company shows up in a van to repossess his stuff. Couch, fridge, microwave, tv, laptop, and ps3. I can't even imagine making payments on those things like that.

But then a few months later when things were slow and our dispatcher was having money issues (her husband worked for the competition) she showed up one day complaining that they had had to take the rims on hubbies truck back, because they couldn't make the payments.. I almost died laughing.

 

People talk about the instant loss of resale on a new car, like "it losses ten grand pulling off the lot". True but are you going to sell it at that point? If you buy something you can afford to pay off then the resale value only matters when you sell it after years of use. At that point the initial loss is averaged out with the rest and it becomes a mute point. I have two vehicles bought and paid for with years of service left. Every mile I put on them now reduces that value loss.

I don't know much about leasing in the commercial world so maybe I spoke a little fast. I may have been thinking of the Lease to Purchase (rent to own). I say run away and fast.

The example of the ten month operational then two month hiatus in Thailand sounds great but at the end of twelve months they are back to zero. What happens when they bring something back from Thailand?

Cover your bases, that's what my Dad taught me. You can play the game as hard as you want as long as your bases are covered, this is my adaptation.

 

Like what woukd they bring back other than a disease haha

 

If you have the expendable cash, it is ALWAYS better to buy than lease. You get a better price and an asset. Not everyone has that ability, that's why those other options (financing, leasing, etc) exist.

 

Yes, no questions about it. Cash in hand you purchase not lease.