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Truck Leasing Pros and Cons Forest Hill MD

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.

Postman Plus - Corporate & New Store Information
(410) 256-7447
16 Newport Drive
Forest Hill, MD
 
Hickory Mini Storage
(410) 893-7666
603 Hoagie Drive
Bel Air, MD
 
Stack And Store Mini Storage
(410) 879-7750
1621 Bel Air Road
Fallston, MD
 
Uhaul Co.
(410) 420-9703
122 N Tollgate Rd
Bel Air, MD
 
Budget Car Rental - Baltimore Metro Reservations- Bel Air
(410) 879-8242
2315 Bel Air Road
Fallston, MD
 
Postman Plus
(410) 893-7678
15 East Churchville Road Suite 115
Bel Air, MD
 
Husky Oil North
(410) 893-2825
1702 Conowingo Road
Bel Air, MD
 
Budget Truck Rental Truck Rental Reservations
(410) 836-8840
2700 Bel Air Road
Fallston, MD
 
Five Star Rent A Car
(410) 893-9210
2001 Bel Air
Fallston, MD
 
Uhaul
(410) 877-9503
602 Fallston Road
Fallston, MD
 

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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