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Truck Leasing Pros and Cons Hampton VA

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.

A Magic Mover
(757) 497-5901
176 Mac Street
Virginia Beach, VA

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U-Haul CO - Independent Dealers- Hampton
(757) 723-6427
205 West Mercury Boulevard
Hampton, VA
 
Atlas Van Lines Agent
(757) 766-8100
61 Basil Sawyer Drive
Hampton, VA
 
Guardian Storage & Van Corporation
(757) 826-5348
415 Rotary Street
Hampton, VA
 
Coleman American Moving Service
(757) 826-9100
600 Industry Drive
Hampton, VA
 
U-Haul Co
(757) 723-2310
81 Lincoln St
Hampton, VA
 
Joe Moholland Moving
(757) 827-2900
220 E Street
Hampton, VA
 
Best Choice Inc
(757) 825-9187
1911 North Armistead Avenue # A
Hampton, VA
 
Covan World-Wide Moving
(757) 826-9100
600 Industry Drive
Hampton, VA
 
The Ups Store
(757) 838-9365
26 Town Center Way
Hampton, VA
 
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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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