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Truck Leasing Pros and Cons Central Falls RI

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.

3Rd Generation/Aml Moving & Stg
(508) 226-7701
39 Franklin Mckay Road
Attleboro, MA

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Straightline Used Furniture
(401) 724-1020
501 Roosevelt Avenue
Central Falls, RI
 
Moving Box Company
(401) 722-9443
122 Pollett Street
Cumberland, RI
 
Taylor & Sons Moving & Storage NY Express Service
(401) 722-6150
97 Higginson Avenue
Lincoln, RI
 
Storage Center
(401) 725-4488
700 Narragansett Park Drive
Pawtucket, RI
 
People'S Moving & Storage Co.
(401) 737-6000
1363 Greenwich Avenue
Warwick, RI

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Mullins and Crum Moving and Storage
(401) 726-4040
345 Barton Street
Pawtucket, RI
 
Extra Space Storage
(888) 609-8483
201 Concord St
Pawtucket, RI
 
Citizens Van Lines
(401) 727-4888
599 Daggett Avenue
Pawtucket, RI
 
Chris Corrigan Moving Inc
(401) 722-2422
Great Road
Lincoln, RI
 
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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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