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Truck Leasing Pros and Cons Fort Payne AL

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.

Hilyer Mini Storage
(256) 845-2077
1801 Gault Avenue North Suite 106
Fort Payne, AL
Wilson Realty
(256) 845-1530
213 Grand Avenue Southwest
Fort Payne, AL
Jamel Containers LLC
(256) 845-9775
1604 Sylvania Road Northwest
Fort Payne, AL
Fort Payne Mini Storage
(256) 845-2202
156 45th Street Northeast
Fort Payne, AL
I59 Flea Market Mall
(256) 635-6899
11925 Al Highway 117
Valley Head, AL
U-Haul CO - Independent Dealers- FT Payne
(256) 845-6321
1206 Gault Avenue South
Fort Payne, AL
Uhaul Co Independent Dealers Ft Payne
(256) 845-7448
12155 Al Highway 35
Fort Payne, AL
Cherokee Village Mini Storage
(256) 623-3679
4515 County Road 44
Fort Payne, AL
Pine Ridge Mini Storage
(256) 845-7448
12155 Al Highway 35
Fort Payne, AL
Sylvania Mini Storage
(256) 638-7898
Highway 75 South
Sylvania, AL

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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