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Truck Leasing Pros and Cons Eastpointe 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.

Kirby Factory Authorized Service Center
(586) 772-2280
19112 East 10 Mile Road
Eastpointe, MI
 
McCallum Piano Movers
(586) 498-9668
24576 Grove Avenue
Eastpointe, MI
 
Simply Self Storage
(586) 447-8160
21500 Gratiot Avenue
Eastpointe, MI
 
Two Men And A Truck
(313) 533-7038
Harper Woods, MI
 
Macomb County Locksmiths
(586) 779-1269
26671 Gratiot Avenue
Roseville, MI
 
McCallum Moving CO Inc
(586) 776-7898
24576 Grove Avenue
Eastpointe, MI
 
Budget Truck Rental
(586) 778-0050
17210 East 9 Mile Road
Eastpointe, MI
 
Will Deal Moving Company
(313) 886-1857
Po Box 24604
Detroit, MI
 
Maximus Self Storage LLC
(586) 773-3027
27087 Gratiot Avenue
Roseville, MI
 
Uhaul Co Moving Centers
(586) 774-1144
17920 East 13 Mile Road
Roseville, 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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