Trucking: buying vs leasing dump truck, bob stephens, new trucks

Question
we want to purchase a dump truck to start a new business but have no idea if we should apply for a lease loan or a loan to buy. how can i tell what is best for us?

Answer
Hi Elaine.

I prefer a to purchase my trucks.  You may decide to keep the truck and hire another driver for it.  Then, you can get a new one.  I know that leases have their perks, but there is no greater feeling in trucking when your running a truck that's has no payment!  You will have that feeling one day with a purchase.  If you are wanting to get new trucks every couple of years, then lease.  You'll find, though, that most people purchase.

Good luck!

Bob Stephens