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Truck Leasing Pros and Cons Booneville MS

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.

Travis Childers Realty & Associates
(662) 728-5000
304 West Church Street
Booneville, MS
 
Bekins-Morgan Moving & Storage Inc
(662) 728-9483
Booneville, MS
 
Morgan Moving and Storage
(662) 728-7824
Highway 45 South
Booneville, MS
 
D And A Transportation
(662) 728-4007
1009 Ninth Street
Booneville, MS
 
Moore Engineering CO Inc
(662) 728-2101
1204 North 2nd Street
Booneville, MS
 
Booneville Mini Storage
(662) 728-7694
304 West Church Street
Booneville, MS
 
Uhaul Co.
(662) 728-0393
301 N 2nd St
Booneville, MS
 
Morgan Van Lines Inc Special Products Division
(662) 728-2220
2710 South Second Street
Booneville, MS
 
Wright Ac Trucking
(662) 728-7744
1916 North 2nd Street
Booneville, MS
 
Eaton Paperboard Converters Inc
(662) 728-7741
Meadow Creek Road
Booneville, MS
 

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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