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Truck Leasing Pros and Cons Davison MI

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.

A Plus Storage
(810) 653-7300
7150 East Court Street
Davison, MI
 
Ustore Mini Storage
(810) 653-3155
10096 Lapeer Road
Davison, MI
 
All Secure Self Storage
(810) 658-1447
4176 North State Road
Davison, MI
 
Big Wheel Mini Storage
(810) 653-2192
5100 North State Road
Davison, MI
 
Davison Office Products
(810) 658-1551
208 North Main Street
Davison, MI
 
Classic Services
(810) 658-2727
7017 North State Road
Davison, MI
 
Davison Mini Storage
(810) 653-2830
9424 Lapeer Road
Davison, MI
 
Bristol Steel And Conveyor Corporation
(810) 658-9510
4416 North State Road
Davison, MI
 
Armored Self Storage
(810) 654-9009
3444 North State Road
Davison, MI
 
J C Moving and Delivery
(810) 658-8187
3260 North Henderson Road
Davison, MI
 

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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