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22
May

4 Common Questions And Answers About Leasing A Truck

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If you are planning on leasing a commercial truck and have some questions, don’t worry, you are not alone and you are likely not the first. Investing in a commercial truck is a big endeavour, involving a considerable amount of money and risk and you want to be sure that you have all of the necessary information going into it. Below are four of the most common questions that first time leasers have about truck and trailer and commercial truck leasing. What is a full-service lease? Some financing companies will offer you additional fleet management services and options that can then be rolled into your monthly payment on your lease. A number of items, such as brakes, glass, tires etc., are usually only given to you once during the life of your vehicle. Whenever something needs to be replaced, it’s on you. A full-service lease will typically cover the cost…

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3
Apr

Leasing A Commercial Truck With Bad Credit: 5 Things To Know

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Commercial truck leasing and commercial truck loans are often a necessity for people looking to get into the commercial trucking business. High start-up costs mean that many people often don’t have the cash on hand to make the purchase outright. Many people, for a wide variety of reasons, some of them completely out of their control, often don’t have the credit to get commercial truck leases or commercial truck loans from many traditional financing avenues. If you are looking to lease a commercial truck, but are worried that your bad credit might get in the way, below are five things you need to know. Credit is more important for payments When analyzing whether or not you qualify for financing for a commercial truck loan or commercial truck leasing, your credit score is used more to determine what your payment scheme is going to be like, rather than whether or not…

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18
Jul

4 Signs You May Be Ready To Lease A Big-Rig Truck

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If you’re tired of working for a trucking company and want to try your hand at being your own boss, you can follow in the footsteps of many like-minded people who have made the transition and have not looked back. Being an owner/operator isn’t for the faint of heart. You need to have an entrepreneurial spirit, the discipline to put in the work necessary to build a thriving business and, of course, a big-rig truck. Buying one outright can be cost prohibitive since those massive pieces of machinery aren’t cheap, so leasing is an attractive option worth considering. Read on for some information on four signs that you may be ready to lease a big-rig truck – and then comb over information on how to find the best lease options available so that you can realize your dream of getting behind the wheel of you very own truck. Financial Considerations:…

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7
Apr

Tax Benefits of a Truck Lease

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Under the Canada Revenue Agency’s rules, the depreciation on a motor vehicle that you have purchased (i.e. not leased) can be netted against your income to lower the amount of taxes paid on the money you earned. Canadian tax law has a provision for deductions against income for the lessee to make taxing fair for people who are leasing their vehicle. The tax code is supposed to provide a measure of fairness, so be sure to make the most out of your deductions to save your money. Eligible Leasing Cost We’ll walk through the calculation that the CRA uses to calculate the eligible leasing cost. The cost is how much you’ve been charged in the year for leasing the vehicle. If you have been leasing the car for the full year, include that in your lease cost, otherwise only include the amount that you’ve been charged for the current year.…

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