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JorgeLChoe

Your thoughts on truck financing

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Hey, I'm running a small business in London.
Started the business last year and it's going well. Now we urgently need to buy 2 trucks for our business. It's a construction business. But we don't have sufficient funds for buying trucks. So many people suggested truck loans to me. I found something related to commercial truck leasing from the website of a truck financing firm .

In that article, they have mentioned making tax benefits. I have heard that we can make the tax benefits through loan and equipment leasing. Which option would give more benefits? Can somebody explain how this actually helps with tax benefits?

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I saw nothing about tax benefits in the link you posted, but what you saw is probably about being able to write off the interest your business pays on loans.

Virtually everyone on this board is in the u.s. so you'd be better served talking to an accountant over there to get the most accurate info on how it would work in your particular case. 

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