Leased Van/ Insurance.

Changes HI

Ok so I know some of you have to have a new leased van. I'm lookin at an '05 E-250 Extended. Just wondering what you guys that are leasign are paying for Insurance.

Teetorbilt

I have never leased a van and am curious as why someone in business would.
Insurance should be the same as for any new commercial vehicle. I get a fleet discount so I imagine that what I pay would be irrelavant.

Changes HI

Well my reason is New van every 39 months (I don't like paying for repairs).
Yes the payment is higher due to the depreciation of the vehicle (we're contractors so they ARE gonna get banged up and that's fixed in the lease). And I didn't have the $$$ to buy outright a new van when i started this company. My business logic MAY change in the next few years and i may just buy a van or 2 but it just wasn't feasible to do it now.

O and BTW I got the van already and it's GREAT!

Teetorbilt

In this case I just do whatever my accountant tells me. She's in charge of amortization, depreciation and write offs.
I have found that the life of a truck is about 8-10 yrs or around 200-250K miles if it is well maintained, after that it seems to be a parade of problems.
I drive a new one as do some of my employees (I had to buy 3 last year), the oldest ones get passed down to positions where appearance is not such a concern such as the demo crews.
This year I sold a 1990 Ford E250 that was beginning to be unfaithful. As I remember the loan on this truck was 19K+1K down. I sold it for 2.2K = 17.8K, divide that by the 13 yrs. that I owned it = $1,369 per yr. not bad and I have no idea how much was written off. Might be a good question for Jeanne.

Changes HI

[QUOTE=Teetorbilt]In this case I just do whatever my accountant tells me. She's in charge of amortization, depreciation and write offs.
QUOTE]

Yes I agree... and my accountant said i'll be just as well off if i lease Vs. Buy. So i leased. No $$ out of pocket.
When I get more Crews i'll probably hand out my van and get me a nice F-250...