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Truck Leasing Pros and Cons Dover DE

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.

Box Outlet And Party Goods
(302) 734-7999
448 South Governors Avenue
Dover, DE
The Ups Store
(302) 346-1010
73 Greentree Drive
Dover, DE
Delmarva Warehouses, Inc.
(302) 674-0444
1575 McKee Rd., Suite 5
Dover, DE
Liberto Industrial Park
(302) 697-2196
1502 East Lebanon Road
Dover, DE
Little Richard Enterprises Inc
(302) 734-2400
Bay Road
Dover, DE
New Burton Mini Storage
(302) 736-1758
1429 New Burton Road
Dover, DE
Liberto Mini Storage
(302) 697-2196
1502 East Lebanon Road - Route 10
Dover, DE
Agent For Allied Van Lines
(302) 674-0444
602 Pear Street
Dover, DE
United Van Lines
(302) 674-8055
Dover, DE
Moores Lake Ministorage
(302) 735-9700
1685 South State Street
Dover, DE

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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