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Truck Leasing Pros and Cons Auburn AL

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.

Twin Cities Self Storage
(334) 826-9919
1901 Opelika Road
Auburn, AL
 
American Climate Storage
(334) 821-9015
1004 Opelika Road
Auburn, AL
 
Village East Self Storage
(334) 821-0425
1412 Opelika Road
Auburn, AL
 
Safe Mini Storage
(334) 887-3811
2020 USHighway 29 South
Auburn, AL
 
Budget Truck Rental - Truck Rental Reservations
(334) 826-1840
1010 Opelika Road
Auburn, AL
 
Magnolia's
(334) 821-7001
1577 South College Street
Auburn, AL
 
Silver Eagle Storage
(334) 821-5505
1978 Lee Road 137
Auburn, AL
 
Mobile Attic
(334) 821-8182
1935 South College Street
Auburn, AL
 
Best Rental Corporation
(334) 826-0444
2044 South College Street
Auburn, AL
 
Joan Penrod Real Estate Inc
(334) 821-7722
1199 South Donahue Drive Suite D
Auburn, AL
 

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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