SEMI TRUCK LEASE
PURCHASE BUYOUT

WHAT IS A LEASE PURCHASE BUYOUT?

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A commercial truck lease purchase buyout is a financing arrangement in which a lessee (the person or company who is leasing the truck) agrees to purchase the truck from the lessor (the owner of the truck) at the end of the lease term. This type of agreement is often used by small business owners or independent truckers who need to acquire a truck for their business but don't have the funds to buy one outright.

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The lease purchase buyout agreement typically includes a fixed monthly payment, which includes both the cost of leasing the truck and a portion of the purchase price. At the end of the lease term, the lessee has the option to purchase the truck for a predetermined price, which is typically the residual value of the truck. The residual value is the estimated value of the truck at the end of the lease term, taking into account depreciation and other factors.

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The advantage of a commercial truck lease purchase buyout is that it allows the lessee to acquire a truck for their business without having to make a large upfront payment. It also provides the lessee with the option to purchase the truck at the end of the lease term, which can be beneficial if the lessee wants to continue using the truck for their business. However, it's important to carefully review the terms of the lease purchase buyout agreement before signing, as there may be restrictions on how the truck can be used, and penalties for early termination or default.

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HOW WE CAN HELP

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Owner-operators currently leasing and looking to finance a used semi truck, trailer or commercial vehicle may find the end of lease or balloon payment costs to be too steep without a loan. A commercial loan is an alternative to outright purchases.  Before taking out a commercial vehicle loan, consider your cash flow needs, desired commercial vehicle, maintenance, condition of the unit and start up costs. 

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Even if you are a new owner operator with only three years of commercial driving experience, or a trucking business owner with only one year in business, Valley Big Rig Loans can help with finance options for your lease purchase buyout. However, be mindful of the make and mileage of the desired truck as it will affect your payments and down payment. Loans are preferable to leases as they represent an investment rather than a rental, which can be more costly due to hidden fees and conditions.

 

Valley Big Rig Loans also offers, title loans, first-time buyer loans, commercial vehicle repair loans, and commercial trailer financing.

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Valley Big Rig Loans makes it easy for you to convert your lease to a purchase. A loan specialist is standing by to assist with loan options.

 

To apply for a lease purchase buyout loan, complete an online credit application that requires personal and or business information and employment information, as well indicating the make, model, mileage, engine, and transmission. You will also need to provide a purchase order or payoff indicating the sales price of the commercial vehicle you plan to buy. One of our loan specialist is standing by to help with this important purchase. Contact us today!

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