Is it possible to lease a HD truck?
I've been looking at used HD Trucks from 1999-2005 and find that the prices are pretty crazy. I think it may be better to just buy a new truck for a little more $. For example, I've seen 2005 Ram 35...
Forum Discussion
Hi,
What I have found out (by working for a leasing company many years ago) is the leasing company is going to make a profit. So they charge the cost to buy the vehicle, the costs they need to pay for loan interest, and whatever other fees they deem required to complete the transaction.
Leasing companies still own the vehicle, so they require the leasee to have fairly expensive insurance too, and also have a blanket policy on all the vehicles they own, just in case something happens. There was a case where the brakes failed on a truck, the leasing company was held partly responcible, because it owned the vehicle.
So before signing for a lease, check on the cost to insure the vehicle.
Another problem. Say you scratch the bumper, or dent the tailgate. If you own the vehicle, you can always sell it at a slight loss due to the damage. However if you are the leasee, you have to pay for that dented tailgate (or turn in to the insurance and risk the price being higher next few years) before turning in the vehicle.
Another thought. The $37,000 for the used truck is only a "Asking Price", and normally they will also go down about 15% to 25% in that price, if they realize you are going to make a deal today.
Fred.
What I have found out (by working for a leasing company many years ago) is the leasing company is going to make a profit. So they charge the cost to buy the vehicle, the costs they need to pay for loan interest, and whatever other fees they deem required to complete the transaction.
Leasing companies still own the vehicle, so they require the leasee to have fairly expensive insurance too, and also have a blanket policy on all the vehicles they own, just in case something happens. There was a case where the brakes failed on a truck, the leasing company was held partly responcible, because it owned the vehicle.
So before signing for a lease, check on the cost to insure the vehicle.
Another problem. Say you scratch the bumper, or dent the tailgate. If you own the vehicle, you can always sell it at a slight loss due to the damage. However if you are the leasee, you have to pay for that dented tailgate (or turn in to the insurance and risk the price being higher next few years) before turning in the vehicle.
Another thought. The $37,000 for the used truck is only a "Asking Price", and normally they will also go down about 15% to 25% in that price, if they realize you are going to make a deal today.
Fred.
