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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.

Storage Bank
(505) 268-9798
1208 San Pedro Drive Northeast
Albuquerque, NM
A Little Storage Place
(505) 244-1210
1824 Buena Vista Drive Southeast
Albuquerque, NM
(505) 242-1100
2640 Baylor Drive Southeast
Albuquerque, NM
Ups Store
(505) 266-1874
1112 San Pedro Drive Northeast
Albuquerque, NM
Midtown Self Storage LLC
(505) 823-4406
4339 Cutler Avenue Northeast
Albuquerque, NM
Mail Boxes Etc - Albuquerque
(505) 266-1874
1112 San Pedro Drive Northeast
Albuquerque, NM
Pak Mail
(505) 888-5798
5010 Cutler Avenue Northeast
Albuquerque, NM
(505) 884-4580
4701 Cutler Avenue Northeast
Albuquerque, NM
Budget Truck Rental
(505) 883-6367
2500 San Mateo Boulevard Northeast
Albuquerque, NM
U-Haul Co
(505) 242-9792
1401 Yale Blvd SE
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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