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Truck Leasing Pros and Cons Gallatin 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.

Red River Warehouse CO
(615) 452-1415
513 Red River Road
Gallatin, TN
Bill Webster Trucking & Excavating
(615) 451-7625
1321 Highway 109 North
Gallatin, TN
A A Mini Storage
(615) 452-1493
184 Factory Street
Gallatin, TN
Little Sam Trailer Sales
(615) 451-0696
1468 South Water Avenue
Gallatin, TN
Branham Trucking
(615) 452-4753
426 South Water Avenue
Gallatin, TN
Tepco Inc
(615) 452-1624
215 South Boyers Avenue
Gallatin, TN
Sunbelt Container Inc
(615) 452-0110
1440 Airport Road
Gallatin, TN
Downtown Self Storage
(615) 452-1900
386 West Main Street
Gallatin, TN
City Mini Storage
(615) 451-9667
287 Hancock Street
Gallatin, TN
Gallatin Mini Storage
(615) 452-8081
540 Airport Road
Gallatin, 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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