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Truck Leasing Pros and Cons Albuquerque 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.

The Ups Store
(505) 242-1978
2132 Central Avenue Southeast Suite A
Albuquerque, NM
U-haul Co.
(505) 266-1408
4305 Lomas Blvd Ne
Albuquerque, NM
A Little Storage Place
(505) 244-1210
1824 Buena Vista Drive Southeast
Albuquerque, NM
U-Haul Co
(505) 242-9792
1401 Yale Blvd SE
Albuquerque, NM
(505) 242-1100
2640 Baylor Drive Southeast
Albuquerque, NM
Williams Charles W RL Estate
(505) 881-8283
2444 Louisiana Boulevard Northeast
Albuquerque, NM
U-Haul Co
(505) 299-7277
8101 Menaul Blvd NE
Albuquerque, NM
(505) 884-4580
4701 Cutler Avenue Northeast
Albuquerque, NM
The Ups Store - Albuquerque
(505) 883-0207
3167 San Mateo Boulevard Northeast
Albuquerque, NM
A-1 Self Storage
(505) 243-3464
2636 Baylor Drive Southeast
Albuquerque, 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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