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Truck Leasing Pros and Cons Hagerstown MD

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.

Rival Balloon Promotions
(301) 791-6231
120 Jonathan Street
Hagerstown, MD
 
Mayflower Transit Agency
(301) 416-7150
Hagerstown, MD
 
Cassidy Trucking Inc
(301) 733-7900
441 South Potomac Street
Hagerstown, MD
 
Budget Car And Truck Rental
(301) 739-3560
Washington County Ai
Hagerstown, MD
 
Halfway Self Storage
(301) 582-4646
17314 Virginia Avenue
Hagerstown, MD
 
U-Haul CO - Independent Dealers- Hagerstown
(301) 582-9055
11609 Hopewell Road
Hagerstown, MD
 
All Seasons Storage
(301) 582-4800
17100 Cole Road
Hagerstown, MD
 
Whitaker Moving Systems Inc
(301) 416-7150
Airport Industrial P
Hagerstown, MD
 
Kitchens Garage
(301) 733-1922
11217 Marbern Road
Hagerstown, MD
 
DRL Properties
(301) 790-0450
22725 Stevenson Road
Hagerstown, MD
 

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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