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Truck Leasing Pros and Cons Belen NM

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.

Uhaul Co Independent Dealers Jarales
(505) 864-0499
880 Rio Communities Boulevard
Belen, NM
U-Haul CO - Independent Dealers- Jarales
(505) 864-8969
414 Jarales Road
Belen, NM
Damacios Chili Products
(505) 864-9611
19723 Highway 314
Belen, NM
River Road Self Storage
(505) 864-0029
1524 East River Road
Belen, NM
White Elephant Self Storage
(505) 864-3633
2355 State Highway 47
Belen, NM
Anchor Selfstorage
(505) 864-3194
1010 South Main Street
Belen, NM
Almacen Value Self Storage
(505) 864-9494
1932 Camino Del Llno Boulevard
Belen, NM
Uhaul Co.
(505) 864-1313
19723 Highway 314
Belen, NM
Americas Self Storage
(505) 864-1888
821 South Main Street
Belen, NM
AMBI Self Storage
(505) 864-0109
19397 Highway 314
Belen, NM

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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