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Truck Leasing Pros and Cons Fort Thomas KY

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.

Hosea Project Movers
(859) 356-8900
3951 Madison Pike
Covington, KY

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Storage Solutions of Newport
(859) 655-8374
324 East 4th Street
Newport, KY
 
Stanco Equipment CO Inc
(859) 291-6924
1223 Licking Pike
Newport, KY
 
Guardian Packaging
(859) 491-3911
110 Center Street
Wilder, KY
 
U-Haul Co
(859) 431-5729
706 York St
Newport, KY
 
AA Self Storage LLC
(859) 572-0105
6307 Licking Park
Fort Thomas, KY
 
A1 Approved Veterans Moving
(859) 431-6585
505 York Street
Newport, KY
 
Uhaul Co
(859) 781-7396
800 E 8th St
Newport, KY
 
Newport Self Storage And Suites
(859) 581-7771
515 West 9th Street
Newport, KY
 
Garfield Storage
(513) 621-0031
111 Garfield Place Ofc
Cincinnati, OH
 
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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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