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Truck Leasing Pros and Cons Decatur IL

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.

Taylor Transfer
(217) 423-0220
529 North Morgan Street
Decatur, IL
 
Arts Rentals
(217) 875-2241
2800 North Oakland Avenue
Decatur, IL
 
Woodford Mini Warehouses
(217) 875-6901
2727 North Woodford Street
Decatur, IL
 
Budget Truck Rental
(217) 876-1565
3696 Greenswitch Road
Decatur, IL
 
Thornton Welding Service Incorporated
(217) 877-0610
4350 North State Route 48
Decatur, IL
 
Federal-Johnson Moving & Storage CO
(217) 429-4131
2035 East Olive Street
Decatur, IL
 
Central Illinois Transfer & Storage
(217) 423-7719
2550 North Parkway Court
Decatur, IL
 
Guy Neibuhr Builders
(217) 877-4875
2104 North Oakland Avenue
Decatur, IL
 
Bekins Van Lines Agent
(217) 423-7719
2550 North Parkway Court
Decatur, IL
 
Clifton Moving And Storage Inc.
(217) 877-1208
1555 Hubbard Ave
Decatur, IL
 

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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