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Truck Leasing Pros and Cons Boiling Springs SC

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.

John Dodd Road Storage
(864) 585-0960
169 Old John Dodd Road
Boiling Springs, SC
 
A AA Self Storage
(864) 578-4807
240 Giles Drive
Boiling Springs, SC
 
Parris Bridge Mini Storage
(864) 578-5941
3921 Parris Bridge Road
Spartanburg, SC
 
U-Haul Co
(864) 591-1097
1030 N Church St
Spartanburg, SC
 
Asp Inc
(864) 599-9820
100 Corporate Drive
Spartanburg, SC
 
Budget Truck Rental
(864) 578-8886
8715 Asheville Highway
Spartanburg, SC
 
Lots A Space Storage
(864) 814-4424
4141 Highway 9
Spartanburg, SC
 
Budget Rent A Car System Inc
(864) 582-7890
1450 Asheville Highway
Spartanburg, SC
 
U-haul Co.
(864) 542-9510
1354a Boiling Springs Rd
Spartanburg, SC
 
Public Storage
(864) 582-9840
2155 Chesnee Highway
Spartanburg, SC
 

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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