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Truck Leasing Pros and Cons Franklin WI

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.

Budget Truck Rental - Truck Rental Reservations
(414) 761-6285
8833 South 27th Street
Franklin, WI
 
Mapl Storage
(414) 529-8940
7761 West Ryan Road
Franklin, WI
 
In Motion Movers
(414) 529-4840
8283 South Four Oaks Drive
Franklin, WI
 
Breunig Engineering
(414) 529-3998
10535 West College Avenue
Franklin, WI
 
The Ups Store
(414) 529-7870
7245 South 76th Street
Franklin, WI
 
Dalor Transit Inc
(414) 421-8900
6005 West Ryan Road
Franklin, WI
 
Allwood Sheds
(414) 529-4888
11123 West Forest Home Avenue
Franklin, WI
 
Fanetti King Air
(414) 425-6807
6701 West Ryan Road
Franklin, WI
 
Benning Storage
(414) 423-5604
# 10101S60
Franklin, WI
 
Franklin Self Storage
(414) 421-9110
5510 West Rawson Avenue
Franklin, WI
 

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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