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what happens if i turn my truck in.
Discussion in 'Lease Purchase Trucking Forum' started by DragonHalo99, Apr 2, 2014.
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Are there bad leases out there? Sure are. Are there good ones? again, sure are.
Me thinks they need some Art stores near the truck stops cause these guys are painting with too broad a brush.KeithT1967 Thanks this. -
Don't forget that your credit may take a hit. It is a debt your walking away from. That is why I say . Put A walk away clause in the contract. or being able to be able take truck and lease on elsewhere.
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There is no credit hit if you walk away from a lease. On the other side of things there is no befit to your credit for leasing and completing it ether. -
Your right UBU but I did say MAY take a hit. And not all leases are the same from company to company. But if they research in depth most lease purchases really do not benefit the drivers enough to take it on.
I think a lot of the good - bad leases depend on the integrity of the company. I know not all companies are bad or dishonest but you seldom hear about those. -
JChors Thanks this.
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KeithT1967 Thanks this.
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The original poster mentioned that he is involved in a lease with Central Refrigerated/Swift. Some of the replies mention a Lease/PURCHASE. Has it been established that the Central/Swift lease is, in fact, a lease with an option to purchase at the end of the lease? Or, is it a standard lease where, at the conclusion of the contract's specified date, the leased equipment is returned to the leasing agent and the lessee just walks away?
Not all leases are Lease/Purchase., or lease with an option to purchase at the end of the lease.
Leasing a Big truck without an option to purchase contract is more like renting the equipment for a set period of time. Leasing with an option to purchase is still comparable to renting during the lease period specified in the contract. At the conclusion of a lease/purchase, the lessee has the option of purchasing the leased equipment for an amount set by the leasing agent, or just walking away with nothing, --- except for the satisfaction of completing the lease.
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