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Truck Leasing Pros and Cons Fairbanks AK

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.

North American Van Lines Agent
(907) 452-1286
1426 Well Street
Fairbanks, AK
International Wood Industries
(907) 456-5051
805 Bidwill Avenue
Fairbanks, AK
Uhaul Co
(907) 457-2149
350 Steese Highway North
Fairbanks, AK
A Mini Storage
(907) 456-3279
3600 Easy Street
Fairbanks, AK
Sourdough Express Inc
(907) 452-1181
600 Driveway Street
Fairbanks, AK
In Storage
(907) 451-9479
2020 South Cushman Street
Fairbanks, AK
Interior Transportation Inc
(907) 451-7485
3420 Industrial Avenue
Fairbanks, AK
Far North Moving & Storage Inc
(907) 452-4105
1427 Well Street
Fairbanks, AK
W T W Trucking
(907) 452-5905
360 East Van Horn Road
Fairbanks, AK
Glacier State Moving & Storage
(907) 451-0525
620 Old Richardson Highway Suite 100
Fairbanks, AK

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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