Leasing Trucks

Discussion in 'Rental Equipment' started by Lynden-Jeff, Feb 20, 2007.

  1. Lawnworks

    Lawnworks LawnSite Fanatic
    from usa
    Posts: 5,407

    I don't know why you would want that debt if you haven't established your company. The number one reason small business fail is lack of capital.

    Is Canada's tax law favor leasing over buying?

    From what I have been advised leasing is a raw deal. Why not get a good solid work truck for 10-15k? Heck you could even get a cabover for your maintenance crew for that.
     
  2. DLCS

    DLCS LawnSite Platinum Member
    Posts: 4,374

    Even coverting that $1200 payment to US dollars you are still over $1000 per month. What are you thinking and to make matters worse its lease. Way too much money. I don't know, maybe there is a big tax advantage to leasing in Canada?
     
  3. zedosix

    zedosix LawnSite Silver Member
    Posts: 2,631

    Personally I don't want a 2 yr old reg. cab, xlt. I had that 15yrs ago. Today I want a brand new leather smelling interior, extended cab, 6 cd player, bla bla bla. I want to be the first to drop coffee on the carpet. I don't want to spend a dime on warranty. You see after I've driven the heck out of this truck I bring it back and lease a new one with full warranty again. As far as payments go, big deal thats the least of my worry. Owning a new one will cost the same per month and after you've paid it off 4 or 5 yrs down the road, just realize the money you've spent on front end work, tires, brakes etc and not having a warranty at all, no roadside ass. Basically worthless when its time to trade in and you start all over again. My last truck cost me nothing but the payments. Don't forget this truck was close to 3 times what you paid for yours hence the large payments. Its a personal matter what people wish to do with their money, for me leasing works. For you buying works
     
  4. Lynden-Jeff

    Lynden-Jeff LawnSite Bronze Member
    Posts: 1,405

    Hey,

    I would definitely consider financing. Did you third party finance or go through the dealer? I have decent credit, even being young, so I'm pretty sure I would be approved. Maybe its the way to go, this is why I started the thread lol.

    Cheers
    Jeff
     
  5. Lawnworks

    Lawnworks LawnSite Fanatic
    from usa
    Posts: 5,407

    I get your drift... but from what I have seen you have an established business. Would you reccomend this for a new company?
     
  6. pclawncare

    pclawncare LawnSite Senior Member
    Posts: 991

    I lease my every day truck but i also own a 3/4 ton dodge. My leased vehicle is a 2006 toyota tundra stickered at just a hair over 35,000 its loaded leather heated seats n everyting else you can think of. Anyway i know you are talking about 3/4 to desiel and all that but considering that the US sticker on that truck is prob 45 thousand i can not believe that you pay a grand a month for a lease. I am not going to say how much i pay per month in lease but it is in the middle of 200 bucks and 400 bucks so take a wild guess. That is with the gap insurance or what ever so if it gets totaled i just walk away oweing nothing. I dont know if i could swallow a grand a month in payments but thats just me. If you have all the money just sitting around more power to ya. I do know what you mean about having a brand new truck every couple years it is nice. I just dont know if I would lease a work truck.
     
  7. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    You also have to remember the cost of trucks in Canada is allot more that what you guys in the US pay.

    I bought a 03 F-450 2wd last week for 29 grand but by the time I had all the taxes and who ha my payments are 700 a month for 5 years. I'am financed through the bank because it was easier for me. Its the newest truck I ever owned.

    A familly friend just ordered his new 08 and I think the cost of his new F-350 comes out to 75,000 dollars for a fully loaded extended cab dually 4x4 pickup with the 6.4. The prices on pickup trucks are getting rediculous :nono:
     
  8. zedosix

    zedosix LawnSite Silver Member
    Posts: 2,631

    The lease I acquired is for 2 yrs and not the usual 20,000kms, but 38,000. Cost of truck is just under 62,000 canadian so you figure it out. This is what it cost believe me.
     
  9. leaflandscape

    leaflandscape LawnSite Member
    Posts: 241

    Have you considered an F150? The new ones can haul 9900 lbs and they look great. We get a lot of our stuff delivered, and the most the truck hauls is a 7000 lb dump trailer, and it works awesome. Ours is a 2006 and it only costs us $450 per month on a lease for four years. depending on how heavy your use is, it might just work and save you a killing on payments and you can write off a pile of that. There's a picture of it on the 'skid steer towing' thread.
     
  10. mrusk

    mrusk LawnSite Gold Member
    Posts: 3,260

    Your still laying out 21,000 and after 4 years you have nothing. Whats the truck cost new 25k?
     

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