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Truck Leasing Pros and Cons Crestwood 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.

Uhaul Co Independent Dealers Crittenden Ky
(502) 241-4904
5717 W Highway 22
Crestwood, KY
 
Papas Mini Storage
(502) 243-3540
6348 West Highway 146
Crestwood, KY
 
South Oldham Self Storage
(502) 241-5304
6332 West Highway 146
Crestwood, KY
 
McMakin Body Shop
(502) 241-8138
7903 Old Zaring Road
Crestwood, KY
 
Walker And Johnson Enterprises Inc
(502) 222-3010
213 South 1st Street
La Grange, KY
 
Scheinost Transport
(502) 243-6977
7707 Floydsburg Road
Crestwood, KY
 
Crestwood Mini Storage
(502) 243-2959
5717 West Highway 22
Crestwood, KY
 
Uhaul Co
(502) 241-4904
5717 W Highway 22
Crestwood, KY
 
Eagle Steel Products
(502) 241-6004
3420 Collins Lane
Louisville, KY
 
Bekins Van Lines Agent
(502) 426-7050
12201 Westport Road
Louisville, 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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