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Truck Leasing Pros and Cons Franklin TN

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.

Elite Movers
(615) 791-4005
Franklin, TN
Franklin Movers
(615) 794-8866
Franklin, TN
Cool Springs Storage Park
(615) 771-7672
Neal Road
Franklin, TN
The Ups Store
(615) 790-7929
1113 Murfreesboro Road
Franklin, TN
Baker T Machinery Moving
(615) 790-9936
164 Old Carters Creek Pi
Franklin, TN
Self Storage Warehouse
(615) 791-8500
101 Westwind Court
Franklin, TN
Alpha Mini Storage
(615) 790-6888
140 Alpha Drive
Franklin, TN
Storaway Self Storage
(615) 794-1793
2553 Winder Drive
Franklin, TN
Budget Truck Rental
(615) 790-6170
234 5th Avenue North
Franklin, TN
Acme Piano Moving
(615) 591-7400
236 3rd Avenue North
Franklin, TN

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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