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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.
Leased Van/ Insurance.
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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.
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.
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28 Posts
Well my reason is New van every 39 months (I don't like paying for repairs).Teetorbilt said:
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 $$$ to buy outright a new van when i started this company. My business logic MAY change in the next few years and i may just buy a van or 2 but it just wasn't feasible to do it now.
O and BTW I got the van already and it's GREAT!
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In this case I just do whatever my accountant tells me. She's in charge of amortization, depreciation and write offs.
I have found that the life of a truck is about 8-10 yrs or around 200-250K miles if it is well maintained, after that it seems to be a parade of problems.
I drive a new one as do some of my employees (I had to buy 3 last year), the oldest ones get passed down to positions where appearance is not such a concern such as the demo crews.
This year I sold a 1990 Ford E250 that was beginning to be unfaithful. As I remember the loan on this truck was 19K+1K down. I sold it for 2.2K = 17.8K, divide that by the 13 yrs. that I owned it = $1,369 per yr. not bad and I have no idea how much was written off. Might be a good question for Jeanne.
I have found that the life of a truck is about 8-10 yrs or around 200-250K miles if it is well maintained, after that it seems to be a parade of problems.
I drive a new one as do some of my employees (I had to buy 3 last year), the oldest ones get passed down to positions where appearance is not such a concern such as the demo crews.
This year I sold a 1990 Ford E250 that was beginning to be unfaithful. As I remember the loan on this truck was 19K+1K down. I sold it for 2.2K = 17.8K, divide that by the 13 yrs. that I owned it = $1,369 per yr. not bad and I have no idea how much was written off. Might be a good question for Jeanne.
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28 Posts
Teetorbilt said:In this case I just do whatever my accountant tells me. She's in charge of amortization, depreciation and write offs.
QUOTE]
Yes I agree... and my accountant said i'll be just as well off if i lease Vs. Buy. So i leased. No $$ out of pocket.
When I get more Crews i'll probably hand out my van and get me a nice F-250...
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