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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.

American Self Storage
(505) 434-2800
1655 Highway 70 West
Alamogordo, NM
 
Playhard Transport
(505) 443-1022
2749 North Florida Avenue
Alamogordo, NM
 
Continental Self Storage
(505) 437-7756
20948 Highway 70 West
Alamogordo, NM
 
Tidwell Motor Lines
(505) 437-2135
7082 Highway 54 70
Alamogordo, NM
 
Budget Truck Rental
(505) 439-8152
7023 Highway 54 70
Alamogordo, NM
 
U-Haul Co
(505) 443-6108
1499 Highway 70 W
Alamogordo, NM
 
United Van Lines Agency
(505) 437-5630
1102 Highway 70 West
Alamogordo, NM
 
The Side Doors Self Storage
(505) 437-1922
300 Highway 70 West
Alamogordo, NM
 
Lincoln Moving And Storage Inc
(505) 434-2306
1400 Black Street
Alamogordo, NM
 
Bekins Records Management
(505) 437-1080
1505 Highway 70 West
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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