Anyone lease trucks?

Discussion in 'Business Operations' started by Bunton Guy, Nov 14, 2012.

  1. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,755

    Im thinking of leasing a 2012-13 dodge 3500,4500 or 5500.

    I thought that usually lease payments were less then loan payments?
    I used an online calculator that said the lease payments would be roughly $1,150 a month for a $53,000 truck with $2,500 down on a 36MO lease.

    Im sure there is dozens of variables for how to get the payment figured. Im just trying to get a general idea. As far as what I see I still can't afford the truck with a lease or a loan:hammerhead: I was hoping for around $600-700 payment.

    Also what kind of mileage do they allow with commercial leases? My wifes honda CRV is killer with only 12,000 miles a year.

    My trucks put on an average of 20-25,000 miles a year.

    BTW. I did call my dealership & never could get the man in charge of answering my questions on the phone.
  2. HPI_Savage25

    HPI_Savage25 LawnSite Member
    Posts: 192

    I wouldn't ever lease a truck but that is for me. I would never even lease a vehicle. The few people I know that have leased any type of vehicle said they end up trying to charge for anything and everything when the lease is over. I would rather be making payments on something I want to own and not something I am paying for and may not even own after its all said and done. Just my .02 though
  3. ToddH

    ToddH LawnSite Silver Member
    Posts: 2,184

    Most leases charge interest on the whole value of the vehicle and you pay principal on the value - residual.

    Figuring out if the residual is good or bad is tricky but 50% is average on most leases. That is why leases are lower on a monthly bases as you are effectively in a 72 month payment plan but you give up the vehicle. Better off buying at 60 months IMHO or go 72 if you have to but I try to stick to 48 for the best rates.

    Ask them about a 72 month lease with a 1 Dollar buy out :D
  4. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,717

    Do you NEED this new truck? Why not go with used if you need another truck and save yourself on depreciation? When I bought my first "newer" one ton in '05, I put down over 9k on a 60 Month loan and my payment was still over $700 a month.
  5. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,755

    JRs. I don't HAVE to have new. I know that it is harder to get a loan on an older model truck.

    I have yet to find the exact vehicle I need/want.

    I want a dodge 3500/4500 with Knapheide or equivelant landscape stake body. It has removable sides so you can load from either side & barn style back doors. Every used truck is either flat bed or service bed.

    I don't WANT to lease I just thought it was possible the only way I could afford a newer truck. I rather spend less then $35K on a used truck then $50K+ on a new truck. Really not comfortable spending any kind of money but I know my business needs it. We are running the WHEELS off older trucks and repair bills are getting to be to much. Right now were running 99 mitsu cabover, 1995 F-250 pulling dump trailers, 2001 F-350 pulling trailers & a 2000 Ranger for estimates and running around town.

    I could cut my fleet in half with one newer truck.
  6. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,717

    It's not hard to get a loan on older trucks.... it's impossible! We purchased our service truck last year and asked what kind of loan we could get. The dealer pretty much said none. We just purchased a truck with the body you're talking about, we wanted a flatbed but this was the best deal we could find. Used trucks are out there for short money you just have to be able to pay cash to get them. How about liquidating the units the newer one will replace to help with the new purchase?
  7. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,755

    I have thought about selling 3 of my 4 trucks. My issue is lack of time & motivation to sell them. My mind is going 30 billion different directions & this time of year I lose focus really quick.

    BTW. The bed I priced at Knapheide and it was 12K WOW...I had to ask are we talking american dollars? :laugh: $16K if you want it to dump :drinkup:
  8. Landscape Poet

    Landscape Poet LawnSite Gold Member
    Posts: 3,638

    Have you looked for them on craigslist in Quincy IL and surrounding areas? Knapheide has a huge factory there and it there bed assemblies are very common in that area. Might be able to find something used there at a much lower cost?
  9. StockmanLawnscape

    StockmanLawnscape LawnSite Member
    Posts: 131

    Don't lease, it's a waste of money. We recently bought a '11 F-350 with brand new Boss V-Plow and payments are just under $600 a month with only 5K down. There are deals out there, just be patient and you will find one. If it feels like you are forcing it, then it's not the right deal to make!
  10. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,755

    Landscape poet: I live 4.5 miles from a knapheide factory in Midland NC.

    Stockman: That is a great deal! That's the kind of deal I would jump on! was it financed through FMC?

Share This Page