Discussion in 'Ask An Owner Operator' started by blackdogg1, Mar 29, 2020.
witch is better leasing or buy
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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.
What about straight lease vs traditional financing?
The only way to know, is to compare total cost of each. Use a calculator on bankrate.com. Auto loan calculator.
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.
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.
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.
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.
I’ve only leased if it was short term needing something extra . I would never lease long-term way too costly better to buy!