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Truck Leasing Pros and Cons Bay City 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.

Century 21 Lockey Realty
(989) 894-4900
114 Washington Avenue
Bay City, MI
Bay City Boat And Rv Storage
(989) 894-4000
3013 North Water Street
Bay City, MI
Advantage Moving And Storage
(989) 891-9458
309 Fraser Street
Bay City, MI
Two Men And A Truck
(989) 895-5252
105 Garfield Avenue
Bay City, MI
Arnold Sales
(989) 894-2931
1218 North Lincoln Street
Bay City, MI
Riverside Truck And Storage Co
(989) 892-8400
409 1st Street
Bay City, MI
Riverside Truck & Storage CO
(989) 892-5912
409 1st Street
Bay City, MI
Landaal Packaging
(989) 894-2854
1400 Eddy Street
Bay City, MI
Uhaul Co
(989) 894-5798
99 N Tuscola Rd
Bay City, MI
Red Ball Moving Service
(989) 892-5912
409 1st Street
Bay City, 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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