I have a 2014 good mpg car paid off. Need truck start business. Sell car and use money to buy newer truck or spend 1k on clunker ? Nkeep car?
- David 14Lv 73 years ago
You don;t NEED a truck. Keep what you have.
- mccoybluesLv 73 years ago
You can’t start a business with a $1000 truck. It will break down and you’d lose the business because you couldn’t get to the job
- Anonymous3 years ago
Do you need capital? If you do, sell the car and lease a truck. If you don't, keep it
- ntLv 73 years ago
Your business will probably fail. Never lease. Borrow a truck when needed.
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- busterwasmycatLv 73 years ago
Lease a truck and write it down as a business expense. You could buy one too (doesn't have to be new) but it is more complicated dealing with capital depreciation than lease payments. If you use the truck only (or almost only) for work, you can write all the costs off.
Really depends on your expected cash flow, what you should do. If you expect the business to start pretty slowly, better to buy a clunker and upgrade when you have a better cash flow situation. One consideration is that you really won't be able to afford the possible downtime from vehicle failure with a clunker. Reliability has a definite value.