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Truck Leasing Pros and Cons Bangor ME

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.

Allied Van Lines Agents
(207) 947-0183
105 Godsoe Road
Bangor, ME
Coastal Painters of Bangor
(207) 942-1146
137 Phillips Road
Glenburn, ME
Stor-More Storage & Shipping
(207) 848-5252
2293 Union
Bangor, ME
Bangor Moving Center
(207) 945-9411
16 Summer Street
Bangor, ME
Maine Self Storage
(207) 945-6497
1554 Hammond Street
Bangor, ME
Fox & Ginn Movers
(207) 947-0183
105 Godsoe Road
Bangor, ME
Abc Storage
(207) 942-3474
78 Rice Street Suite 2
Bangor, ME
Budget Truck Rental
(207) 947-5191
861 Union Street
Bangor, ME
Haynes H C Inc Truck Garage
(207) 848-5930
Freedom Industrial P
Bangor, ME
An Interstate Agent For Allied Van Lines
(207) 947-0183
105 Godsoe Road
Bangor, ME

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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