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Then there's the cost of insurance, fuel, and maintenance. Lease payments usually run between $1,000 and $2,500 per month, depending on the type of truck. However, some leasing companies will require weekly payments. A new truck can usually be leased for $1,600 to $2,500 per month.
You must either return the car and buy or lease a new one, or buy the vehicle at the lease-end price. (Typically, the value of your car or truck at the end of the lease is set in advance.) Leasing a car rather than buying it will generally cost you much more than simply financing a purchase from the start.
Rates will be higher than if you had been around longer: if you have a 680 credit score, for example, your monthly payment on a $35,000 tractor loan would be around $825 a month if you've been in business for 2 or more years, but if you've been around for 6 months the rates could jump to $1,150 to offset the lender's
A lease is basically a finance purchase with much more flexibility. The major difference is you don't own the depreciation. As someone above stated, when you can use a new tractor for three years for 15 cents per horsepower per hour for three years, with full warranty, in most cases that's just smart business.
With a true lease, you make payments for a set period of time (2-5 years) and at the end you may walk away from the tractor, or you'll have the option to purchase the tractor for 10% of the original finance amount -(so if you financed $50,000, you would then own the tractor for a final lump sum payment of $5,000) while
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