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Truck Leasing Pros and Cons Albemarle NC

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.

Crystal Mini-Storage Center
(704) 982-5390
1011 West Nc 24 27 Bypass
Albemarle, NC
 
Furr's Pet Shop
(704) 982-4513
2049 Badin Road
Albemarle, NC
 
U-Haul CO
(704) 983-7942
1506 Nc 24 27 Bypass West
Albemarle, NC
 
Era Four Seasons Realty
(704) 982-5518
204 West North Street
Albemarle, NC
 
BLM Inc Trailer Rentals
(800) 238-1067
Highway 8 North
New London, NC
 
Albemarle Mini-Storage Inc
(704) 986-6543
140 Anderson Road
Albemarle, NC
 
Bliss Storage
(704) 983-1175
1630 Badin Road
Albemarle, NC
 
Lowder Carl James
(704) 982-4456
435 Willow Street
Albemarle, NC
 
B-Moss Storage
(704) 982-4513
2049 Badin Road
Albemarle, NC
 
A-1 Storage
(704) 463-1016
37931 USHighway 52 North
New London, NC
 

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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