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Truck Leasing Pros and Cons Huntersville 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.

Iron Mountain Offsite Data Protection
(704) 948-4550
11835 Sam Roper Drive
Huntersville, NC
 
Huntersville Mini Storage
(704) 875-1218
14804 Statesville Road
Huntersville, NC
 
Bob Parks Piano Sales
(704) 875-1367
11043 Beatties Ford Road
Huntersville, NC
 
Alcove Mini Storage
(704) 875-0061
16101 Old Statesville Road
Huntersville, NC
 
Safe Harbour Storage
(704) 896-3113
9208 Westmoreland Road
Cornelius, NC
 
North MECK Self Storage
(704) 948-5575
11515 Hambright Road
Huntersville, NC
 
Harbor Mini Storage
(704) 875-2669
16112 Old Statesville Road
Huntersville, NC
 
American Movers & Labor
(704) 913-6697
1900 Statesville rd
Huntersville, NC
 
Budget Truck Rental
(704) 987-9121
18630 Statesville Road
Cornelius, NC
 
Bailey Road Storage
(704) 895-8750
10921 Bailey Road
Cornelius, 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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