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Truck Leasing Pros and Cons Gallup NM

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.

Gallup Self Storage
(505) 722-9571
2608 Boyd Avenue
Gallup, NM
Gallup Moving & Storage
(505) 863-3011
501 Patton Drive
Gallup, NM
Adobe Self Storage
(505) 722-7511
1708 South 2nd Street
Gallup, NM
Nizhoni Self Storage
(505) 722-5855
211 Nizhoni Blvd
Gallup, NM
Bekins Agent
(505) 863-3011
501 Patton Drive
Gallup, NM
Gallup Fire Extinguisher Sales And Service
(505) 722-4587
North Ushighway 666
Gallup, NM
Sunrise Self Storage
(505) 722-7989
3000 West Historic Highway 66
Gallup, NM
Hagar Self Storage
(505) 722-9663
209 Cedar Hills Drive
Gallup, NM
White Water Portable Storage Sheds
(505) 722-5883
900 West Maloney Avenue
Gallup, NM
Gallup Camper Sales Inc
(505) 722-6737
2702 East Historic Highway 66
Gallup, NM

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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