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Truck Leasing Pros and Cons Evansville IN

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.

Behrman's Transportation Co Inc
(812) 479-1499
705 North Geiger Bloomington
Evansville, IN
Penske Truck Rental - Evansville-West
(812) 467-0627
1040 East Mount Pleasant Road
Evansville, IN
Penske Truck Rental - Evansville-North
(812) 868-2100
1040 East Mount Pleasant Road
Evansville, IN
North Side Mini Storage
(812) 867-5525
1020 East Mount Pleasant Road
Evansville, IN
Spectrum Container Inc Warehouse
(812) 985-9774
11825 Old Highway 62
Evansville, IN
Gibco Motor Express Inc
(812) 867-4950
12600 Warrick County Line
Evansville, IN
United Van Lines
(812) 429-0500
401 Northwest 2nd Street
Evansville, IN
Store N Lock
(812) 473-0504
10966 Lincoln Avenue
Evansville, IN
Geiger Moving And Storage Co
(812) 429-0500
401 Nw 2nd St
Evansville, IN
Spectrum Container Inc - Warehouse
(812) 422-0072
1100 West Lloyd Expressway
Evansville, IN

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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