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Truck Leasing Pros and Cons Humboldt TN

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.

Econo Mini-Storage
(731) 784-2985
712 North 22nd Avenue
Humboldt, TN
 
Humboldt Mini Storage
(731) 784-4048
307 North 14th Avenue
Humboldt, TN
 
Faith Drum CO
(731) 784-5754
9200 State Route 152
Humboldt, TN
 
E-Z Mini Storage
(731) 784-5578
1595 Coleman Drive
Humboldt, TN
 
Smurfit-Stone Container Corporation
(731) 784-1500
1720 North 9th Avenue
Humboldt, TN
 
Quality Moving Service
(731) 787-6739
20 Morris Moore Drive
Humboldt, TN
 
Gmac-Town & Country Inc Realtors
(731) 664-3423
1944 Highway 45 Bypass
Humboldt, TN
 
American Cold Storage-Humboldt Division
(731) 784-7130
965 West Mullins Street
Humboldt, TN
 
Humboldt Pawn & Sales
(731) 784-2985
712 North 22nd Avenue
Humboldt, TN
 
Jana's Boutique
(731) 784-5578
1595 Coleman Drive
Humboldt, TN
 

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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