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Truck Leasing Pros and Cons Chattanooga TN

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.

Chattanooga Box CO Inc
(423) 756-8414
2515 Cannon Avenue
Chattanooga, TN
 
Jepco Mini Storage & Climate Control
(423) 485-9088
1010 King Street
Chattanooga, TN
 
Millennium Packaging Solutions
(423) 622-0805
1310 East 13th Street
Chattanooga, TN
 
Armstrong Transfer & Storage Inc
(423) 238-8701
6059 Relocation Way
Chattanooga, TN
 
Hyde Moving Co Llc
(423) 899-5900
6739 Ringgold Road
Chattanooga, TN
 
Scott Equipment Company
(423) 265-8251
621 East 11th Street
Chattanooga, TN
 
Prostorage & Records Center
(423) 756-8006
1210 King Street
Chattanooga, TN
 
We Haul
(423) 899-8855
Chattanooga, TN
 
Top Flight Warehouse
(423) 624-4171
1800 Crutchfield Street
Chattanooga, TN
 
Budget Truck Rental
(423) 698-2696
2604 Amnicola Highway
Chattanooga, TN
 

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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