Leasing vs Buying

[renegade_cowboy]

So I decided to go with the TNT next year, hope Les can paint it GREEN. I have the option to lease or buy, just want to hear from you guys who do both, what are the benefits ect.

The unit will be around $15000 for what I want. I have never bought a TM, I paid cash for my current one. If I buy how much of a down payment do I need for around $300 a month payments. I think I am just going to sell my current TM for $4000 or so. I did get it working and it does start after its hot, but I just want new if I am going to be doing this full time.

I am going to talk to Les's finance guy this week I just wanted different opinions on this subject.

Thanks

 

[TimP]

If you want to own it in the end and are 100% sure you're going to make it in your business then don't lease. I leased because I was starting up and I could just say come pick it up.....now I wish I financed the thing so I could pay it off quicker. I was going to transfer my lease to financing....(interlink financial said sure no problem we would treat it like a loan before I bought my tm) but the problem is that they take your payment and multiply it by the months left and give a small discount. It's hardly worth paying off early. And one thing is for sure your payments will be less to finance.

If you want 300 buck payments and you sell your old TM you probably could go with the reactor. I think at 6% I borrowed 16,000 on a car loan in the past and it was around 290 a month. And you're probably looking at 7-8% for financing as a business so I'd say 15-16,000 for 300 a month payments. Anyways good luck and have fun. Must be exciting to get a new TM.

 

[Able 1]

For every 5 grand you barrow it's around 100 for the payment depending on your cred.

 

[XTREME1]

$16,000 at 5 yrs at 6% with $4,000 down would be $231.99 on a loan of $12,000

$212.66 on $15,000 minus the 4 gs down with a loan of $11,000

Surely your not that dumb you have to come here to figure out loan terms. Just buy it cash