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Truck Leasing Pros and Cons Berkley 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.

Packaging Store
(248) 542-2500
28201 Woodward Ave
Berkley, MI
EZ Storage - Additional Locations Outside the MT Clemens Area- Berkley
(248) 591-9610
1716 Coolidge Highway
Berkley, MI
Montys Cartage
(248) 585-2090
827 Royal Avenue
Royal Oak, MI
Mail Boxes Etc Royal Oak
(248) 546-1215
2422 North Vermont Avenue
Royal Oak, MI
Public Storage
(248) 288-3400
5060 Coolidge Highway
Royal Oak, MI
EZ Moving & Storage
(248) 276-6636
1695 12 Mile Rd Suite 200
Berkley, MI
Boxes Tape Etc
(248) 288-1450
3019 Clawson Avenue
Royal Oak, MI
Ups Store
(248) 548-8178
29488 Woodward Avenue
Royal Oak, MI
Hewelt Moving And Storage
(248) 546-1215
2422 North Vermont Avenue
Royal Oak, MI
Brighton Van Lines
(248) 288-7700
4949 Fernlee Avenue
Royal Oak, 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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