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Truck Leasing Pros and Cons Fargo ND

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.

5 Star Moving, Inc.
(701) 356-6683
Po Box 8131
Fargo, ND

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Finneman Eugene
(701) 235-1969
3330 28th Avenue South
Fargo, ND
 
Mini Store All
(701) 232-0463
1001 23rd Street South
Fargo, ND
 
Hentges Company
(701) 237-3405
1121 Westrac Drive South Suite 102
Fargo, ND
 
A-1 Moving
(701) 361-7889
3313 Fiechtner Drive, Unit D
Fargo, ND
 
Tire City
(701) 235-0563
65 28th Street South
Fargo, ND
 
Jones Lee & Son Construction CO
(701) 293-1845
2900 Fiechtner Drive South
Fargo, ND
 
FM Records Center
(701) 364-3696
307 Main Avenue
Fargo, ND
 
Centennial Shipping Products & Packaging
(701) 293-1331
2740 Main Avenue
Fargo, ND
 
Bob Footitt Construction Inc
(701) 239-8125
Po Box 7098
Fargo, ND
 
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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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