witch is better lease or buy

Discussion in 'Ask An Owner Operator' started by blackdogg1, Mar 29, 2020.

  1. blackdogg1

    blackdogg1 Bobtail Member

    5
    2
    Feb 21, 2019
    0
    witch is better leasing or buy
     
  2. lynchy

    lynchy Light Load Member

    80
    287
    Oct 18, 2010
    off the grid
    0
  3. uncleal13

    uncleal13 Road Train Member

    2,970
    4,192
    Apr 9, 2009
    Humboldt, Sk
    0
    In the long run, a lease to own via a third party (finance company) is more costly than a purchase loan from the same finance company.
     
  4. longhaultransport

    longhaultransport Light Load Member

    166
    301
    Dec 25, 2009
    West Central, Florida
    0
    What about straight lease vs traditional financing?
     
  5. Rideandrepair

    Rideandrepair Road Train Member

    6,357
    9,318
    Aug 8, 2015
    0
    The only way to know, is to compare total cost of each. Use a calculator on bankrate.com. Auto loan calculator.
     
  6. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

    9,090
    7,562
    May 28, 2009
    Rancho Mirage, Ca.
    0
    I've never been a proponet of leasing from the co. you're hired on with. They have all the cards. They dispatch you, do the payroll etc. Not a good position for the driver.
     
    blairandgretchen Thanks this.
  7. longhaultransport

    longhaultransport Light Load Member

    166
    301
    Dec 25, 2009
    West Central, Florida
    0
    If you lease from someone like Penske, the maintenance and repairs are on them and the entire cost of the lease is tax deductible.

    Those numbers need to figure in there also.
     
  8. Midwest Trucker

    Midwest Trucker Road Train Member

    2,303
    5,404
    Aug 31, 2018
    0
    I like the pride of ownership myself.

    Leasing companies wouldn’t be around if it wasn’t profitable. Also, it depends on what your thinking of buying. Not enough info.
     
  9. Old Man

    Old Man Road Train Member

    3,724
    8,949
    Apr 3, 2009
    Oklahoma City, OK
    0
    If you buy with enough down so you are not upside down on the loan you can get out if things go south. Breaking leases can be expensive.
     
  10. Deere hunter

    Deere hunter Heavy Load Member

    922
    2,548
    Aug 5, 2017
    0
    I’ve only leased if it was short term needing something extra . I would never lease long-term way too costly better to buy!
     
  • Draft saved Draft deleted