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Truck Leasing Pros and Cons Belleville NJ

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.

A & A Alliance Moving Inc
(212) 575-8729
329 E 94 Str
New York, NY

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Bellina Frank Moving Co
(973) 751-2211
118 Belmont Avenue
Belleville, NJ
 
Uhaul Co
(201) 998-8090
570 Belleville Ave
Belleville, NJ
 
Safe And Secure Self Storage
(973) 759-6100
25 Main Street
Belleville, NJ
 
Packaging Specialties Co
(908) 241-1444
1296 Mccarter Highway
Newark, NJ
 
Dynamic Moving
(908) 474-9008
510 W Elizabeth Av
Linden, NJ

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Lackland Self Storage
(973) 751-8848
125 Franklin Street
Belleville, NJ
 
Budget Truck Rental Truck Rental Reservations
(201) 998-8090
570 Belleville Ave
Belleville, NJ
 
Schiffenhaus Packaging Corporation
(973) 484-5000
2013 Mccarter Highway
Newark, NJ
 
Uhaul Center Of Newark
(973) 485-3446
836 Broadway
Newark, NJ
 
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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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