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Truck Leasing Pros and Cons Ada OK

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.

U-haul Co.
(580) 310-9948
Hwy 99 N
Ada, OK
Gould Specialized Services
(580) 332-5804
110 South Constant Avenue
Ada, OK
Twin Lakes RV
(580) 436-3800
14148 County Road 1554
Ada, OK
Ada Metal CO
(580) 436-6084
902 Sandy Creek Drive
Ada, OK
King Moving & Storage
(580) 436-2032
4301 Arlington Street
Ada, OK
Hop & LOK Storage
(580) 332-5131
1719 North Broadway Avenue
Ada, OK
Mini Storage
(580) 436-1100
501 Arlington Street
Ada, OK
J B Welding
(580) 332-6194
120 Armory Road
Ada, OK
Budget Truck Rental
(580) 436-1660
1000 Arlington Street
Ada, OK
Ram Jack Foundation Repair
(580) 436-4900
210 East 6th Street
Ada, OK

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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