Buy Or Lease Truck

Discussion in 'Lawn Mowing' started by blakes estates, Feb 26, 2005.

  1. blakes estates

    blakes estates LawnSite Member
    Messages: 17

    I am looking to buy or lease a new truck,I am looking for any pros or cons that you have come across in the business.
  2. Woody82986

    Woody82986 LawnSite Silver Member
    from DFW, TX
    Messages: 2,128

    If you are looking for a 3/4 ton or 1 ton truck you may be in slim pickings for leases. I don't know too many places that will lease a truck like that b/c of the beating they take. A 1/2 ton wouldn't be a lease problem.
  3. Shawns Lawns

    Shawns Lawns LawnSite Senior Member
    from Maine
    Messages: 638

    If you looking to lease a truck and use if for work i think you will pay dearly when you return it. :)
  4. iowapride

    iowapride LawnSite Member
    from Iowa
    Messages: 59

    From experience, I did it once for the first and last time about 7 years ago. It was through Ford and when I turned it in they tried getting me for over $2500. Everything from worn steering wheel to the leather seats were starting to crack. I had a fifth wheel plate and they tried charging something for that. Needless to say, the truck I had ordered was cancelled and I went straight to the Chevy dealership down the road.
    Another big thing to consider is the miles you are going to put on. If you go over you pay dearly. I like buying trucks because I feel like the monthly payments I pay are going to something I own not something that is going down the road in 2 years with nothing to show. I think there are some better tax breaks on leasing but its been awhile. I guess it depends on your situation.
  5. Carolina Cutter

    Carolina Cutter LawnSite Senior Member
    Messages: 984

    Take it from a formal Ford salesperson.....leasing is a LOSE LOSE situation for you.....DO NOT LEASE A TRUCK! The worst thing I had to do when I took a return one day was tell the guy that he had to go put new tires on the truck before I could take it back.
  6. PLM-1

    PLM-1 LawnSite Bronze Member
    Messages: 1,640

    I leased a Land Rover in '99. Had NO problems turning it back in...just tossed them the keys!
  7. Smalltimer1

    Smalltimer1 LawnSite Bronze Member
    Messages: 1,223

    I heard one guy talking about his fleet management practices and he said that the company leased the trucks for 4 years and then bought the trucks at the end of the lease so they could claim 9 years on taxes.
  8. traman

    traman LawnSite Senior Member
    Messages: 712

    just a couple of things
    good points 1. can write off more for taxes
    2. payments are lower due to your are only really renting it
    3. get to be in a new one every 3 or 4 years
    4. less chance of down time,being its new
    5. most repairs are under warranty
    bad points 1.mileage limited most leases are only 15,000 per year or less is much higher , being you don't own the vehicle liability is higher because the finance company needs to be covered as well
    3.wear and tear needs to be at a minimum no major damage only small nicks and things ,everything must be in working order.
    4.if you go over mileage it costs you .20 a mile are always making payments
  9. jtkplc

    jtkplc LawnSite Silver Member
    Messages: 2,656

    You can buy more miles up front for alot less cost if you think you might go over the 15,000. Also, insurance has nothing to do with the finance company. Insurance is based on you and your driving record, not on who is involved with the purchase/ownership.
  10. mtdman

    mtdman LawnSite Gold Member
    Messages: 3,143

    Yup. Unless you pay ahead for extra miles. My first truck was a lease and I blew the mileage by 10,000. And, I was constantly worried about doing damage and/or wear and tear on the vehicle. I'd spend an hour a week cleaning the thing every week.

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