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Truck Leasing Pros and Cons Coventry 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.

People'S Moving & Storage Co.
(401) 737-6000
1363 Greenwich Avenue
Warwick, RI

Data Provided by:
Uncle Bob's Self Storage
(401) 822-2958
5 James P. Murphy
West Warwick, RI
 
Arpin of Rhode Island
(401) 828-8111
99 James P. Murphy Highway
West Warwick, RI
 
Self Storage Center
(401) 885-5500
5805 Post Road
East Greenwich, RI
 
Arpin Van Lines, Inc
401-828-8111 or 800-343-3500
P.O. Box 1302
East Greenwich, RI
 
West Bay Relocation Services
(401) 826-8226
55 Windsor Park Drive
Coventry, RI
 
Warner R W
(401) 821-5903
1611 Hope Road
Hope, RI
 
Arpin World Forwarding Corporation
(401) 822-4545
Jas P Murphy Highway
West Warwick, RI
 
Uncle Bob's Self Storage
(401) 885-8293
500 Frenchtown Road
Greenwich, RI
 
Associates North AMER Van Lines
(401) 943-3203
61 Comstock Parkway
Cranston, 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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