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Truck Leasing Pros and Cons Franklin Square NY

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.

A & A Alliance Moving Inc
(212) 575-8729
329 E 94 Str
New York, NY

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Paramount Moving & Storage Inc
(845) 895-3400
3 Commercial
Garden City, NY
 
Triple Crown Moving And Storage
(516) 775-1053
145 Rockmart Av
Elmont, NY
 
Keepers
(516) 227-0200
2 Endo Boulevard
Garden City, NY
 
A1 Finnegans Moving Co
(516) 355-0850
175 Lanaw Avenue
Elmont, NY
 
Public Storage Inc
(516) 832-2556
1055 Stewart Avenue
Garden City, NY
 
Storage Quarters
(516) 876-1052
999 Stewart Avenue
Garden City, NY
 
Safeguard Self Storage
(516) 538-4500
45 Hempstead Turnpike
West Hempstead, NY
 
Uhaul Center Of Saint Albans
(718) 949-1400
207-05 Linden Blvd
Saint Albans, NY
 
Brian Walsh Moving And Storage Svce
(516) 872-6059
582 Brook St
Mitchell Field, NY
 
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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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