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Truck Leasing Pros and Cons Cedar Rapids IA

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.

A-1 Vacuum
(319) 366-5145
209 7th Street Southeast
Cedar Rapids, IA
Stannard Moving & Storage
(319) 366-8338
Cedar Rapids, IA
Hawkeye North American
(319) 396-0540
Cedar Rapids, IA
Bekins Van Line Agent
(319) 366-8338
Cedar Rapids, IA
Blue Lagoon Storage
(319) 373-1862
288 Blairs Ferry Road Northeast
Cedar Rapids, IA
Cedar Rapids Piano Lounge
(319) 363-0606
208 2nd Avenue Southeast
Cedar Rapids, IA
Raining Rose
(319) 362-8101
407 9th Avenue Southeast
Cedar Rapids, IA
Hawkeye Movers
(319) 364-8018
Cedar Rapids, IA
T And M Services Inc
(319) 364-5467
316 9th Avenue Southeast
Cedar Rapids, IA
Affordable Self Storage
(319) 362-2222
Po Box 9064
Cedar Rapids, IA

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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