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Truck Leasing Pros and Cons Alamogordo NM

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.

A And L Self Storage
(505) 439-0444
1200 Mescalero Avenue
Alamogordo, NM
 
Agent For Allied Van Lines
(505) 437-0140
101 7th Street
Alamogordo, NM
 
Big Guys Auto Sales
(505) 434-2242
1499 Highway 70 West
Alamogordo, NM
 
Alamo Mini Storage
(505) 437-7338
2000 1st Street
Alamogordo, NM
 
Lincoln Moving and Storage
(575) 437-9037
1110 Highway 70 West
Alamogordo, NM
 
American Moving and Storage
(505) 437-5630
1102 Highway 70 West
Alamogordo, NM
 
Dollar Boots And Jeans
(505) 437-4721
2850 North White Sands Boulevard
Alamogordo, NM
 
The Storage Center
(505) 437-8892
2219 Lawrence Boulevard
Alamogordo, NM
 
American Self Storage
(505) 434-2800
1655 Highway 70 West
Alamogordo, NM
 
U-Haul Co
(505) 443-6108
1499 Highway 70 W
Alamogordo, NM
 

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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