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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.

Eastbank Store N Lock
(505) 881-8283
2444 Louisiana Boulevard Northeast Suite 225
Albuquerque, NM
Pilot Freight Services
(505) 843-9779
2400 Alamo SE
Albuquerque, NM
Dynamic Enterprises
(505) 254-3848
5905 Marble Avenue Northeast
Albuquerque, NM
Storage Bank
(505) 268-9798
1208 San Pedro Drive Northeast
Albuquerque, NM
U-haul Co.
(505) 266-1408
4305 Lomas Blvd Ne
Albuquerque, NM
The Ups Store
(505) 242-1978
2132 Central Avenue Southeast Suite A
Albuquerque, NM
San Mateo Moving And Storage
(505) 883-3833
4020 San Mateo Boulevard Northeast
Albuquerque, NM
A Little Storage Place
(505) 244-1210
1824 Buena Vista Drive Southeast
Albuquerque, NM
Mail Boxes Etc - Albuquerque
(505) 266-1874
1112 San Pedro Drive Northeast
Albuquerque, NM
Midtown Self Storage LLC
(505) 823-4406
4339 Cutler Avenue Northeast
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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