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Truck Leasing Pros and Cons Ashland KY

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.

Bellefonte Storage Center
(606) 329-2050
103 Jane Hill Road
Ashland, KY
 
Ashland 29th St Storage
(606) 329-9040
449 29th Street
Ashland, KY
 
Ashland Storage Center Inc
(606) 329-1473
3836 Winchester Avenue
Ashland, KY
 
Ashland Rental Car Inc
(606) 325-1354
1000 Greenup Avenue
Ashland, KY
 
Atkins Storage Center
(606) 928-5107
4750 Winchester Avenue
Ashland, KY
 
The Battery Terminal Inc
(606) 329-1473
38 Saint & Winchester A
Ashland, KY
 
Move Rite Transfer And Storage
(606) 325-1414
1300 Greenup Ave
Ashland, KY
 
Budget Truck Rental
(606) 324-2535
3424 Greenup Avenue
Ashland, KY
 
United Van Lines
(606) 325-1414
1300 Greenup Avenue
Ashland, KY
 
U-Haul CO - Independent Dealers- Ashland
(606) 324-9623
3836 Winchester Avenue
Ashland, KY
 

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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