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lonemoutain leasing in iowa

dose anyone have any opinion on lonemoutain

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are their terms reasonable

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No they are awful. Save up your cash then pay cash for your truck.

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I know 3 guys that have gotten trucks thru LM. One even has gotten a second truck there. I have never heard any complaints from any of them. Two of them have said good things about LM and would do it again. But, 3 opinions do not a consensus make. As with getting any truck, do your due diligence and make sure you know what you are getting and the terms.

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I'd never lease anything. Leasing is just a long term rental, you never own the equipment. Save up a cash down payment and get a bank loan. We just got our first truck financed at 6% with 25% down.

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Wrong. Lone Mountain is a lease to buy. You own it at the end of the lease.

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A Lease allows a one person to possess property belonging to another person for a fixed or an indefinite period of time (called the term of the lease). Um, I think that's also called renting.

I ran the numbers on a LM lease purchase for a Volvo 780 and when all was said and done they wanted $20K over market value for the truck. I call that a rip off.

Save your money and get your finances in order. There is no easy button.

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LM lease program, when you make the last payment you own the truck. BTW your def above also describes a purchase, you make payments on property that belongs to someone else for a term. At the end of the term its yours. Just like LM's lease.

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i don't knock anything about lone mountain but after running numbers on their trucks; u pay a small fortune for them. i don't know if they do any kind of credit check but i also wonder how legit they are. i am also concerned if their trucks are junkers that will need band-aids often from prior neglect & abuse or actually good decent used trucks that still have lots of life left in them.

cdowning i agree with u but, how easy will they give u the title to the truck after u make that last payment to them?

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Very easy per what a few guys I know that have gotten trucks thru them. From those I have actually talked to that have gotten trucks at LML, they have mostly positive to say. I have not dealt directly with LML.

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I just bought my truck from them. I will say that if I ever have to lease another truck I will use them again. We just bought a 2009 truck from the Georgia location.

If you buy a truck that is a "junker" it is your fault as there are many tools at your disposal to avoid that. With that said I will add let the buyer beware. Our first truck was from Arrow in Dallas. Right out the door there were problems, and their response is that is an warranty issue not theirs.

With Lone Mountain we went through the truck with a fine tooth comb! Everything''Italic text'' we found they fixed. Things they were not equipped to handle at their shop was sent to a dealership to resolve!

Our process included:

a test drive to determine what truck we liked.

We ran a "rigdig" to see if there were any problems

We had a dealership read the ecm data

Dyno tested at WW Williams

DOT/Landstar inspection at a non affiliated shop

As with any major purchase do your homework....

Total pre-purchase costs for us were 600 bucks, far less than a breakdown repair/tow!

Now, 1 week/6200 miles later there are no problems!

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I know a mechanic, in Omaha that has had 8 or 10 guys get trucks at Lone Mountain. Every one of them is very happy with what they got.

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I got my truck there and know a couple others who did also they seem happy. I did it because I couldn't seem to save a dime at the co. I was at so saving wasn't a option and my credit was horrible (apparently buying eveything you see on credit and not paying it off when you turn 18 is bad for the credit and haunts you for years after) so I went with LM there is no balloon payment at end its a 3.5 yr lease at the end you own truck out right. the trucks they get are fleet trucks so you assume they had a decent maintenance program. After the term of the lease I will have paid $60600 for a 07 volvo (bought in feb 2012). So its a steep price but I still don't see a way I could have got a truck other wise. As a co they have been ok to work with nice ppl. I have never been late on a payment so not sure if they are lenient or not. If you can't figure a way to come up with the money they are a decent alternative. I would try every other avenue first though.

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They are very lenient on payments, they have worked with me a few times. I just had to realize with the truck payment I have to get out there and work to get ahead.

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LM is Minimal up front costs, maximum later...I was checking: Volvo 2008, with 1/2 milion miles will end costing you 65k. At the end of the lease it may be worth, lets say, 25k ?

Same truck in a good auction would cost like 35k. Probably what they pay out of the fleets and re-sale for 64k.

Old X newer: Both WILL you frustrate you, but you get less frustrated when you spent 20k than 64k.

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I currently am purchasing a truck from Loan Mountain. I have not had any problems with them at all. Just do a thorough check on the truck you pick. Take it and get it checked out at a mechanic and get Dyno check. I think their rates are reasonable.

Update

Why do people comment when they know nothing of what they speak? If you do not know what you are talking about! Shut the F up!

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Leasing a truck is a viable option I choose to lease for tax consideration as during the term I can deduct every thing maximum right offs. I prefer this over a depreciation or 179 deduction that I may need to recoup if I dispose of the equipment early. Plus i can get a new ride at the end of my lease keeping my maintenance cost down. Lease vs buying is a preference not a rule and if u lease and end up with the title ( if you want it) its a bonus. However be careful if you can lease a new truck that's always a consideration. I don't understand why folks always hate on leasing %%#* most major carriers lease their gear on a trac lease basis with stipulated oem agreements on mileage based fleet returns in favor of a sure time frame on new trucks entering their fleets. Financing a truck is not always the viable option as much as most would like to think. But as most have said do your homework.

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I did the math comparison of leasing a truck from LM and buying a truck of the same year make and miles - the LM lease came out to be $5600.00 less than buying with bank financing @ 7.5%

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I went thru LM in Las Vegas, NV. If you do go with LM, just make sure you get the truck checked out real good. And be sure to get it dyno'd and do a rig dig. If you dont, and have a break down and try to get warranty work, you may not get it. Plus if you get it inspected and find things wrong, they will make the repairs. But once you sign and drive it off the lot, it's your problem. The people at LM Vegas are real nice. I got a 2009 Prostar from them Dec 2013. The whole transaction took 2 days. Including taking it for inspection and dyno. The price of the truck was in line with the International dealships. $4200 down and $1395 a month for 42 months.

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jack allen will be eternally grateful.
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