Anyone lease trucks?

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

  1. ringahding

    ringahding LawnSite Senior Member
    Posts: 612

    Make payments to own.

    Leasing is actually beneficial for larger companies with serious fleet action, multiple divisions or just plain killing it in one division. The fact is when the lease ends, you will be very disappointed at the amount owed on the vehicle. So I just say make those payments.

    Regardless if you are purchasing another vehicle at the end of the lease from the dealer, they may try to add damage charges(scratches, seats, etc.), plus you have to keep your on the mileage.

    Nothing like working hard and having something to show for it! Buy it brotha!
     
  2. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Posts: 1,567

    Have you ran the numbers for a used vs new scenario? Ive found that we typically come out a head when we buy used fleet vehicles after the big guys are done with them. We are going to come out even further ahead next year when we build another barn with our own service bay and hire a night mechanic at his hourly rate vs shop rates.

    We just got an old brickman truck w 55k on the clock for a bit over 10k. Dump truck before that came from TGLC for a song and dance. The trick is you have to have cash and be ready to pounce when they come up.

    My advice is this: make up your mind about which camp you are going to be in - new or used and stick to it.
     
  3. ringahding

    ringahding LawnSite Senior Member
    Posts: 612

    Agreed! Either way you go man, just focus on owning it...good luck brotha!
     
  4. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,759

    Anyone purchase a truck in their company name? I haven't been the best with reporting huge company gains. My bank statement tells the tale but my tax returns don't look good to the dealership. Not that getting a truck in the company name would help....but is it any easier? no established company credit
     
  5. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,718

    No credit means no credit, no matter what name you put the loan under. I'd really look into what Efficiency said, or even lease returns from companies like Ryder or Penske.
     
  6. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Posts: 1,567

    All our trucks and trailers are owned/titled to the business. I paid some expensive lawyers to decide that as they tell me its best for liability issues.
    Posted via Mobile Device
     
  7. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Posts: 1,567

    When you say your tax returns dont look good, do you mean you lie and under report or take significant cash amounts? If so, shame on you. Youre getting your just deserts now.
    Posted via Mobile Device
     

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