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Truck Leasing Pros and Cons Elkhorn WI

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.

Royal Group
(262) 723-6900
1060 Proctor Drive
Elkhorn, WI
 
Sand & Gravel
(262) 723-5500
1950 North Wisconsin Street
Elkhorn, WI
 
Petrie Truck Rental
(262) 723-6545
950 County Road H
Elkhorn, WI
 
U-haul Co.
(262) 723-6579
455 E Geneva St
Elkhorn, WI
 
A C Transfer & Storage
(262) 728-3311
1632 Hobbs Drive
Delavan, WI
 
Hdl Enterprises Inc Household & Piano Moving
(262) 723-5774
W4191 State Road 11
Elkhorn, WI
 
McCabe Structural Corporation
(262) 742-2966
N6424 Foster Road
Elkhorn, WI
 
HDL Enterprises Inc
(262) 723-5774
W4191 State Road 11
Elkhorn, WI
 
J R Mini Warehouses
(262) 723-7333
1950 North Wisconsin Street Suite 2A
Elkhorn, WI
 
Los Transfer & Storage
(262) 728-3311
6430 Mound Rd
Delavan, WI
 

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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