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Truck Leasing Pros and Cons Corbin KY

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.

U-Haul CO - Independent Dealers- Corbin
(606) 528-3171
3444 Cumberland Falls Highway
Corbin, KY
AA Self Storage
(606) 528-9158
1101 Master Street
Corbin, KY
D And G Mini Storage
(606) 528-3651
132 Akins Road
Corbin, KY
U-Haul Co
(606) 526-9070
1405 Cumberland Falls Hwy
Corbin, KY
D G Trucking And Equipment Sales Inc
(606) 528-6187
1250 Robinson Creek Road
Lily, KY
Campbell D H Inc
(606) 523-0404
10265 South USHighway 25
Corbin, KY
Uhaul Co.
(606) 528-6059
Hwy 25 E
Corbin, KY
Triple S Trucking
(606) 528-5079
30 East City Dam Road
Corbin, KY
Uhaul Co
(606) 528-6224
7435 S Us Highway 25
Corbin, KY
Blevins Matt Mobile Home Movers
(606) 528-8252
885 Lynn Camp Road
Gray, KY

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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