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Truck Leasing Pros and Cons Allen Park MI

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.

Apac Paper And Packaging Corporation
(313) 982-6400
4000 Enterprise Drive
Allen Park, MI
Stop N Lock Self Storage
(313) 336-3022
3800 Enterprise Drive
Allen Park, MI
Sandys Sew And Vac Llc
(313) 388-7350
3929 Dix Highway
Lincoln Park, MI
Sandy's Sew & Vacuum
(313) 388-7350
3929 Dix Highway
Lincoln Park, MI
EZ Mini Storage
(313) 381-6628
1782 Howard Street
Lincoln Park, MI
Public Storage
(313) 441-3117
3650 Enterprise Drive
Allen Park, MI
Penske Truck Rental
(313) 271-0131
3700 Enterprise Drive
Allen Park, MI
Allied Van Lines Agents
(248) 645-1330
1636 John A Papalas Drive
Lincoln Park, MI
Uhaul Co.
(313) 383-9165
1928 London Ave
Lincoln Park, MI
Budget Truck Rental - Truck Rental Reservations
(313) 388-1536
3480 Fort Street
Lincoln Park, MI

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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