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Truck Leasing Pros and Cons Alliance OH

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.

Richards Moving & Storage, Inc.
(800) 837-1511
33455 Winona Road
Salem, OH

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Alliance Packaging
(330) 829-0850
12155 Fisher Avenue Northeast
Alliance, OH
 
U-Haul Co
(330) 823-7564
209 Hester Ave
Alliance, OH
 
Micro Storage
(330) 821-0410
11675 State Street Northeast
Alliance, OH
 
Hammond Transfer CO
(330) 821-7365
Alliance, OH
 
Lake Park Mini Storage
(330) 821-8473
14117 Bandy Road
Alliance, OH
 
U-Haul CO - Independent Dealers- Alliance
(330) 823-7839
21896 Harrisburg Westville
Alliance, OH
 
Country Squire Motel
(330) 821-2663
22150 Harrisburg Westville
Alliance, OH
 
Clem Warehouse
(330) 823-1241
1250 Asbestos Drive Northeast
Alliance, OH
 
Marlboro Mini-Storage
(330) 935-2210
9587 Edison Street Northeast
Alliance, OH
 
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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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