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Truck Leasing Pros and Cons Aberdeen SD

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

Dial-A-Move Relocation Services
(605) 229-3789
715 6th Avenue Southeast
Aberdeen, SD
Mack's Auto Body
(605) 225-0480
803 3rd Avenue Northeast
Aberdeen, SD
Herman Housemoving Inc
(605) 229-1785
38677 Cadillac Drive
Aberdeen, SD
The White House Inn
(605) 225-5000
500 6th Avenue Southwest
Aberdeen, SD
Central Storage
(605) 226-3327
1636 Somerset Drive
Aberdeen, SD
U-Haul CO
(605) 225-7490
621 6th Avenue Southeast
Aberdeen, SD
F H Storage
(605) 225-9345
6 North Dakota Street
Aberdeen, SD
Mohr D L Appraisals
(605) 229-5202
12980 387th Avenue
Aberdeen, SD
First Mini-Storage Inc
(605) 225-3936
1001 1st Avenue Southeast
Aberdeen, SD
New Trends Warehouse
(605) 725-6412
405 Commerce Street
Aberdeen, SD

Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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