Please share your thoughts on this
Hello, I have trucking experience over 10 years. Now, I want to settle down as it has become very tiresome. But, I don’t have much knowledge in any other jobs or business. So, I am planning to run a trucking business. I read this blog on starting a trucking business. http://www.truckloancenter.com/blog/trucking-business/start-trucking-business/ . The blog says leasing the equipment is a good option if done correctly. I would like to know more on leasing of trucking equipment. Also, help me decide which option is good in the long run , leasing or purchasing on loan?
Thanks for getting the conversation started!
You’d love our article on equipment financing. We cover the three most common types of equipment leases in detail. We also discuss how equipment leases are different than loans.
If you have more than $50K in retirement accounts, you might also be interested in learning about the rollover for business startups (ROBS). This is a way to access your retirement funds to start a business without having to pay early withdrawal penalties and taxes. You can use the funds for vehicles, equipment, and other startup costs.
Looking forward to hearing from you after you glance at those two articles.