I am looking for input from anyone who has leased a truck versus purchasing outright. I am not talking about a lease purchase from a company or a fleet owner, I am interested in learning more about the positives and negatives of leasing the truck thru a finance company versus financing it outright. I would still have the option of buying the truck at the end of the lease if I choose to, or I could just turn it in and walk away.
My previous tractor purchases were both traditional truck loans and I could depreciate the value of the truck over 3 years. This was ok for the first truck, I only financed it for 3 years, but my second truck I had financed for 4 years, and that fourth year was a bit tough when tax time came around.
It looks like with the lease option, I can write off the entire lease payment, not just the interest, for the full term of the lease(4 years).
Trying to find out more info on leasing, but most info is for cars and not trucks. Any input is appreciated!
My previous tractor purchases were both traditional truck loans and I could depreciate the value of the truck over 3 years. This was ok for the first truck, I only financed it for 3 years, but my second truck I had financed for 4 years, and that fourth year was a bit tough when tax time came around.
It looks like with the lease option, I can write off the entire lease payment, not just the interest, for the full term of the lease(4 years).
Trying to find out more info on leasing, but most info is for cars and not trucks. Any input is appreciated!
