DPW wants to lease vehicles
Posted in the Utica Forum
#1 Apr 22, 2013
DPW wants to lease 3 vehicles for 5 years at a cost of 130k a year. 5 x130 is 650k.
Dave short says it will save taxpayers money because 10 wheelers cost up to 200k. Hmmm let's do the math morons. 5 years from now you don't own the trucks and you paid 650 k for 3 trucks that cost up to 200k. Are they 1 dollar buy out leases. Again lets screw the taxpayers. I agree we need new equipment. However why lease. There is no savings. Plus the employees will destroy these trucks.
#2 Apr 22, 2013
dings and the miles you have to add on also
#3 May 8, 2013
the mechanics will destroy it by not changing the oil
#4 May 9, 2013
A municipal lease is simply a form of a purchase. At the end of the lease the vehicles are 100% owned by the city/town/village who bought them. There two major differences between a lease & a bond purchase. First, with a lease.... the city could walk away from the vehicles if for some reason they can't make payments. Second, the cost of the financing is far less than bonding for the money. When you bond the cost of the money adds tremendously to the cost of the vehicles. Mr. Short is doing fine by the taxpayers of the city by using this method to upgrade the aging fleet.
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