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Truck Leasing Pros and Cons Dumont NJ

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 & A Alliance Moving Inc
(212) 575-8729
329 E 94 Str
New York, NY

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Winston Moving
(800) 966-8365
22 East Quakenbush Avenue
Dumont, NJ
 
Peter Ferraro & Sons Moving & Storage
(201) 447-4070
Bergenfield, NJ
 
Tri-State Moving Company
(201) 387-7988
505 South Prospect Avenue
Bergenfield, NJ
 
Custom Sheds
(201) 385-8338
326 South Washington Avenue
Bergenfield, NJ
 
D Storicks Moving Service
(201) 387-0500
13 Poplar Street
Dumont, NJ
 
Ferraro Peter Moving & Storage CO
(201) 385-2727
186 South Prospect Avenue
Bergenfield, NJ
 
Telsen Corporation
(201) 385-5556
52 Woodbine Street
Bergenfield, NJ
 
Bergenfield Selfstorage
(201) 384-8899
46 South Front Street
Bergenfield, NJ
 
Shiprite Inc
(201) 385-4747
37 Woodbine Street # B
Bergenfield, NJ
 
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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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