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Truck Leasing Pros and Cons Chesterfield VA

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.

Ironbridge Self Storage
(804) 271-7323
6100 Quaiff Lane
Chesterfield, VA
Clover Hill Self Storage
(804) 739-4699
Hull Street Road
Chesterfield, VA
Parcel Plus
(804) 739-0502
13618 Hull Street Road
Midlothian, VA
Pechiney Plastic Packaging
(804) 744-9981
5104 West Village Green Drive
Midlothian, VA
Ellis Warehouse & Mini Storage
(804) 639-9600
2303 Oak Lake Blvd
Midlothian, VA
Stewart Moving And Storage
(804) 794-9380
Chesterfield, VA
Crossroads Trailer Rentals Inc
(804) 378-6222
11001 Trade Rd
Richmond, VA
360 West Mini Storage
(804) 745-4069
3351 Speeks Dr
Midlothian, VA
Brooks Transfer & Storage Co Inc - Chesterfield
(804) 379-5684
200 Wylderose Court
Midlothian, VA
Blue & Gray Self Storage
(804) 276-7916
10717 Hull Street Road
Midlothian, VA

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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