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Truck Leasing Pros and Cons Bay Village 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.

Berea Moving And Storage Co.
(216) 941-5522
4135 West 150Th Street
Cleveland, OH

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Packaging Plus Inc
(440) 835-4040
1882 Coes Post Run
Westlake, OH
 
Moore Packaging & Shipping Inc
(440) 899-9955
25935 Detroit Road
Westlake, OH
 
Unpacking Etc
(440) 871-0506
787 Bassett Road
Westlake, OH
 
Famiano E J MFRS AGT
(440) 892-6050
27899 Clemens Road
Westlake, OH
 
Given Brothers Outside Storage
(440) 835-5431
26324 Detroit Road
Westlake, OH
 
Palmieri & Son Movers
(440) 871-6848
702 Bradley Road
Westlake, OH
 
Olympian Moving & Storage
(440) 835-1235
26145 1st Street
Westlake, OH
 
Olympian Moving and Storage
(440) 835-1235
26145 1st Street
Westlake, OH
 
A-1 American Delivery Service
(440) 777-4688
3906 Dover Center Road
Westlake, 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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