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Truck Leasing Pros and Cons Greensboro NC

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.

Ray Moving & Storage Inc - Greensboro Dispatcher
(336) 855-5883
4111 Romaine Street
Greensboro, NC
Baity Doug Trucking Inc
(336) 272-0780
2502 East Market Street
Greensboro, NC
North American Van Lines Agent
(336) 273-8648
203 South English Street
Greensboro, NC
Whit Way Moving & Storage
(336) 389-1582
Greensboro, NC
City Transfer Records Storage & Management
(336) 378-0665
Greensboro, NC
U-Haul Co
(336) 218-0450
2308 High Point Rd
Greensboro, NC
Certified Moving & Storage
(336) 273-5525
231 North Elm Street
Greensboro, NC
A Helping Hand
(336) 288-3642
Greensboro, NC
Two Men And A Truck
(336) 297-1500
1409 W. Lee St
Greensboro, NC
G & G Plumbing Repair & Moving Service
(336) 907-9708
Greensboro, NC

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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