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[quote user="cprted"] [quote user="Bucyrus"] Given the cost of acquiring another locomotive, why would Sandberg not simply buy #261 for $225,000, put the $500,000-700,000 into the needed boiler work, and run it?  It seems like that would be the lowest cost option.  It would be far less expensive than the lease deal offered by NRM and rejected by Sandberg. [/quote] Because it is very clear from the posts on the matter that while Mr. Sandberg is willing to restore and operate someone else's locomotive, he doesn't want the financial liability of owning a locomotive himself.  If $900,000 to buy and repair the 261 seems like such a no brainer, why don't you buy the locomotive and lease it out? [/quote] I don’t understand what you mean when you say, “he doesn't want the financial liability of owning a locomotive himself.”  What exactly is the financial liability of owning a locomotive?  The only financial issue of owning a locomotive that I am aware of is the price of purchase. It is true that the price of purchase is all up-front, whereas a lease spreads it out, so you cannot compare them dollar for dollar.  But if the price of purchase were overall cheaper than leasing, is there some special reason why he would not want to purchase?   I just assumed that Sandberg was looking for the lowest cost option.  I was not aware of the fact you cite that he has ruled out direct purchase.
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