semi truck leasing
Capitalize a bumper to a leased truck?
I would like to know if GAAP allows for depreciating the bumper of a semi-truck even though we are leasing the truck. We will probably purchase the truck at the end of the operating lease. The special bumpers replace the factory bumpers. When an animal such as a moose is struck with the new bumper, the truck is not totaled as with the old bumper.
If the new bumper is rather expensive, then yes you can capitalize it and add it onto the truck asset account. But it really would be simpler to just 'eat' the expense in the year of purchase rather than adding it to an asset account and depreciating it.
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No Money, Low Money, Little Money Down on Peterbilt Semi Trucks, Big Rig Trucks, Over the Road Trucks
In today's economy, No money, little money, low money down is available on Peterbilt semi trucks, big rig trucks, over the road trucks and tractor trailers for repos and off leases.
At the present time, lenders/dealers are loaded with repo and off lease trucks and trailers. These inventories are disrupting them from continuing their normal selling practices. In addition, these huge inventories are hurting their working capital and related cash flow. Today, we are seeing dealers/lenders offering concessions on a combination of pricing and financing.
Some lenders/dealers are offering easy financing, guaranteed financing and no money down to commence a buying opportunity. These economic conditions have given the first time buyer a large opportunity to enter this market as an owner operator. This can enhance their earning potential and free them from the employer/employee relationship. On the other hand, businesses looking to expand their fleet can use this favorable opportunity to obtain additional trucks and trailers for no money down or very little down and favorable financing.
Some lenders/dealers have waived strong credit scores as a criteria and will approve applicants for repos and off lease trucks that have credit scores below 600. All the lenders have different lending and financing options, therefore it is important to shop around and compare the information. In addition, the available repos, off lease trucks and trailers have been reconditioned and are ready to put back out onto the highways.
The ways to locate these specials are through publications like truckpaper, commercial trader, machinery trader, contacting banks, brokers and researching kewords throughThe internet... Additional publications and auctions are available to research These repo and off lease opportunities....
Examples of Semi Trucks, Big Rig Trucks, and Over the Road TrucksInclude the following:
Peterbilt 379, Peterbilt Extended Hood, Peterbilt Raised Roof, Peterbilt 387, All other older models Peterbilts,
In conclusion, this economic downturn has created a buying and financing opportunity for the startup owner operator and the business that wants to expand its fleet. It is not unheard of that these lenders/dealers offer multiple units to a seasoned business for an expansion opportunity.. These financing deals usually are for sixty months and offer buy out clauses from $1.00 to 20%. It is always advisable for the buyer to consult a professional before acquiring and financing a truck and/or trailer. Additionally, there are new depreciation rules into effect for 2008 and 2009 that the buyer should be aware of .....
Happy hunting for your repo and/or off lease acquisition...
About the Author
Rick has over thirty years of financial experience. This includes acccounting and taxes, leasing, hard asset money and commercial loans. Jaguar Equipment assists the startup and seasoned business for financing in all different industries...
www.inventory4sale.com
www.jaguarequipmentleasing.com/Peterbilttrucks.htm
semi truck leasing Video
2011 Peterbilt 386
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