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Truck Leasing Pros and Cons Caldwell ID

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.

United Hauling Corporation
(208) 455-1650
311 Albany Street
Caldwell, ID
 
East Cleveland Beverage And Tackle
(208) 459-6442
2518 Cleveland Boulevard
Caldwell, ID
 
Southside Mini Storage
(208) 454-9494
3704 Arthur Street
Caldwell, ID
 
Longview Fibre CO
(208) 459-0711
10296 Highway 20 26
Caldwell, ID
 
Truck Racks
(208) 455-9751
15347 Willis Road
Caldwell, ID
 
Easy Access Storage Inc - Caldwell
(208) 453-8300
14852 Highway 44
Caldwell, ID
 
U-Haul CO - Independent Dealers- Caldwell
(208) 455-0724
521 North 10th Avenue
Caldwell, ID
 
Feller Edward R Trucking
(208) 454-3506
1515 East Chicago Street
Caldwell, ID
 
Republic Storage - Caldwell
(208) 454-1000
3202 Cleveland Boulevard
Caldwell, ID
 
U-Haul CO - Independent Dealers- Caldwell
(208) 454-2207
14852 Highway 44
Caldwell, ID
 

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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