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    3 Replies Latest reply on Nov 5, 2011 10:44 PM by CorpCons08

    Leasing/buying truck for work

    Scooby Doo Newbie

      Which is more advantageous - to lease or buy a vehicle for business?  I need a sord of heavy duty truck.

        • Re: Leasing/buying truck for work
          Tracker

          It all depends on how much you are going to use it and how hard it's going to be worked.  I believe the tax write-offs are different depending on if you buy or lease.  Still, when it comes down to it, at the end of a lease you have to give the truck back, while if you buy it, it becomes an asset.  If it were my choice and I could afford it, I would buy, but that is something you should take a look at the financial side before making a decision.

           

          Good luck

           

          ~Paul

          • Re: Leasing/buying truck for work
            LUCKIEST Guide

            I agree with Moderator Paul. The disadvantage of leasing a truck is that the cost to you is higher than that for owning the truck.

            Also the leaseing company will charge you more if you exceed the mileage allowance, If there is damage to the truck

            or if there is little treed left on the tires when you return the truck.

             

            Be careful what you sign

             

            Good luck with your decision

            • Re: Leasing/buying truck for work
              CorpCons08 Ranger

              Moderator Paul is correct in that buying the truck will give your business a valuable asset. Leasing a truck, you are going to pay more, especially if there is a lot of mileage put on the vehicle, and in the end you do not have an asset for the business. I would recommend looking into purchasing the truck rather than leasing it.

               

              Regards,

               

              Dan