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Truck value

Discussion in 'Lease Purchase Trucking Forum' started by SmoothtruckerArt, Jun 4, 2017.

  1. Jun 4, 2017 #1
    SmoothtruckerArt

    SmoothtruckerArt Light Load Member

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    Nov 2, 2016
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    So I'm almost at the end of my lease contract and was looking to buy the truck that I'm currently in I've already found out how much the truck is selling for at the end of the lease about 50 grand with 500,000 miles. Yesterday in the parking lot my truck got damaged from the driver side mirror to the sleeper does the truck lose value will it be cheaper now or does the company fix it up and still try and sell it for 50 grand or do they pocket the insurance money and sell it for what ever they can get out of it
     
    SmoothtruckerArt, Jun 4, 2017
    SmoothtruckerArt, Jun 4, 2017
    #1
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  3. Jun 4, 2017 #2
    buddyd157

    buddyd157 Road Train Member

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    May 25, 2017
    under a shade tree
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    kinda depends on the company. if they let it go, they may sell it "as is" and "as seen", with NO warranty.

    you wanna give up any warranty coverage, even a post sale one (extended) to you? i wouldn't, i ain't rich to shell out repair monies so soon.

    on the other hand, some companies repair all damages and sell at top dollar.

    i guess you either have to wait, of how about asking them?
     
    buddyd157, Jun 4, 2017
    buddyd157, Jun 4, 2017
    #2
  4. Jun 7, 2017 #3
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    In theory, the truck will be repaired since it's not yours yet and is insured fully (I'm assuming). However, the insurance co could estimate the repairs and cut a check to the "owner" (is that you or the leasing co?) It's possible to work a deal between you and the truck co especially since you want to buy it. If so, look for the truck co. to keep the insurance settlement and sell you the truck for a reduced price. But then the truck still needs repairs, right ? This is where your Uncle Fred comes in, he's the guy that does body work in his back yard "at a really good price". So that would be your decision. I would advise having it repaired with insurance proceeds. Good luck
     
    Allow Me., Jun 7, 2017
    Allow Me., Jun 7, 2017
    #3
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