Leasing vs Financing

Discussion in 'Trucks and Trailers' started by WarriorLandscaping, May 17, 2018.

  1. WarriorLandscaping

    WarriorLandscaping LawnSite Member
    Male
    Messages: 151

    What do you guys do with your trucks?

    Will need a second truck sooner or later for second crew.

    I have only done financing.
     
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  2. Kennedylawns

    Kennedylawns LawnSite Member
    Messages: 155

    I’d rather finance. Typically the leasing terms are for low miles a year
     
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  3. wjjones

    wjjones LawnSite Member
    Messages: 220

    Stick with that. Atleast its yours when you get it paid for.
     
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  4. WarriorLandscaping

    WarriorLandscaping LawnSite Member
    Male
    Messages: 151

    Got cha boys
     
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  5. Miller5862

    Miller5862 LawnSite Member
    Messages: 217

    I looked up commercial leasing... i think lawn care get a no on it as it says no for hire. Thats leaves you with financing and simply trading it in or trading up once the warranty expires. Unless livery is like uhaul rentals i dont know.

    Screenshot_20180517-095458_Chrome.jpg
     
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  6. WarriorLandscaping

    WarriorLandscaping LawnSite Member
    Male
    Messages: 151

    Not sure if landscapers are ineligible according to that.
     
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  7. Mitty87

    Mitty87 LawnSite Bronze Member
    Messages: 1,903

    Do you have a big service area? We are doing bigger landscaping jobs so I don't have to drive around all day. I put maybe 3-400km on each truck a week. For 10-11 months that's less than 20,000km. Check and see what policy's on scratches and damage are and if you think you won't beat it up too bad.
     
  8. Miller5862

    Miller5862 LawnSite Member
    Messages: 217

    Well either way if youre going to trade up everytime warranty runs out commercial lease a cab and chassi if you can and its cheaper than financing. Buy a custom bed that fits your needs to always just take off and put on the next truck. Otherwise if youre not going to trade up for warrantys leasing would be a waste of money as said you want your money to go towards something and what happens if you decide not to want to trade up youre kinda forced with a lease..
     
  9. moron88

    moron88 LawnSite Member
    Messages: 17

    we are not "for hire" in this context. that's for things like taxis or freight transporters.
     
  10. awayne

    awayne LawnSite Senior Member
    Messages: 412

    We have F150 leased in the business name so whatever your referring to is incorrect.

    Another thing most people do not know is that leasing or financing on the business name with an EIN will NOT show up on personal credit with Ford and Ally... even if you PG it! Same goes for some business credit cards as well like our chase ink card.
     

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