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Truck Leasing Pros and Cons Greenfield IN

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.

Gem Self Storage LLC
(317) 894-7738
4943 West USHighway 40
Greenfield, IN
 
A Safe Harbour Affordable Storage
(317) 462-1339
4001 East USHighway 40
Greenfield, IN
 
A Storage Place
(317) 467-9740
2076 East Main Street
Greenfield, IN
 
Suburban Products Inc Boxes
(317) 462-4438
3341 West USHighway 40
Greenfield, IN
 
The Ups Store - Suburban Locations- Greenfield
(317) 467-1890
1522 North State Street
Greenfield, IN
 
Hammons Equipment CO Inc
(317) 462-7251
3282 West USHighway 40
Greenfield, IN
 
Budget Truck Rentaloneway Inc
(317) 462-9465
1313 West Main Street
Greenfield, IN
 
Greenfield Plaza U Storit
(317) 462-2441
1111 West Main Street Suite K
Greenfield, IN
 
Bull Pen Self Storage
(317) 468-0724
2202 North Fortville Pike
Greenfield, IN
 
Jrs Ustoreit
(317) 462-3496
2670 West Main Street
Greenfield, IN
 

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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