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Truck Leasing Pros and Cons Bennington VT

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.

Penske Truck Leasing
(802) 442-2951
9999 Penske
Bennington, VT
 
Green Mountain Self Storage
(802) 447-2319
Howard Hill Route 7A
Bennington, VT
 
Morgan Movers
(802) 447-3585
118 Morgan
Bennington, VT
 
Hoosick Self Storage
(518) 686-3100
South Street
Hoosick Falls, NY
 
Propak
(518) 677-5100
Owlkill Road
Eagle Bridge, NY
 
Vermont Container Corporation
(802) 442-5455
Bowen Road
Bennington, VT
 
A Budget Alternative Storage
(802) 447-7070
306 Safford Street
Bennington, VT
 
Bennington Self Storage
(802) 447-3238
Between Walmart & Home Depot
Bennington, VT
 
Uhaul Co
(518) 686-7254
Rt 7 & 22
Hoosick Falls, NY
 
Longe Moving
(518) 784-2710
Po Box 185
Petersburg, NY
 

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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