PIB tip: Shorter loan, less costly truck
The ideal loan term for a three-year depreciable asset like a heavy-duty truck is three or four years, during which you can reap the tax benefits of depreciation to maximize the affordability of the monthly payments. The shorter the term, the less you’ll pay overall due to interest.
The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm. It is sponsored by Ryder and Goodyear. The next Partners in Business seminars will be Aug. 22 and Aug. 23 at the Great American Trucking Show in Dallas.