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Truck Leasing Pros and Cons Grenada MS

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.

A1 Ministorage And Warehouse
(662) 229-0406
855 Highway 51 South
Grenada, MS
 
Lake City Repair
(662) 226-4381
1080 Franklin Street
Grenada, MS
 
Uhaul Co Independent Dealers Grenada
(662) 226-2350
1964 Murff Drive
Grenada, MS
 
R And S Cleaners
(662) 226-6860
1793 Commerce Street
Grenada, MS
 
R And S Storage
(662) 226-9686
1793 Commerce Street
Grenada, MS
 
Mid-South Mini Storage
(662) 226-4381
1080 Franklin Street
Grenada, MS
 
Staten Construction
(662) 226-6097
135 Apple Valley Road
Grenada, MS
 
Sipps Trucking Co
(662) 226-8645
601 3rd Street
Grenada, MS
 
Cook Portable Warehouse
(662) 229-9787
1291 Air Industrial Park
Grenada, MS
 
White Thomas Insurance
(662) 226-0140
1360 Sunset Drive Suite 11
Grenada, MS
 

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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