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Truck Leasing Pros and Cons Corinth MS

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.

Westside Mini Storage
(662) 286-3168
1529 Highway 72 East
Corinth, MS
 
Camilles Interior Designs
(662) 287-9711
3809 Highway 72 West
Corinth, MS
 
Gun Shop
(662) 286-5989
3816 Proper Street
Corinth, MS
 
The Computer Shop LLC
(662) 286-5989
3816 Proper Street
Corinth, MS
 
Morgan Moving & Storage Inc
(662) 287-2828
Corinth, MS
 
Slicks Transportation Inc
(662) 665-0873
750a Highway 45
Corinth, MS
 
Northside Mini Storage
(662) 286-0189
1707 North Polk Street
Corinth, MS
 
Rest Easy Moving
(662) 462-4444
724A Highway 2
Corinth, MS
 
Uhaul Co
(662) 286-3157
900 Shiloh Rd
Corinth, MS
 
Bailey Williams Realty
(662) 287-2404
504 Foote Street
Corinth, MS
 

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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