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Truck Leasing Pros and Cons Huntington IN

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.

Rainbow Lanes
(260) 356-5512
850 South Briant Street
Huntington, IN
 
Baker Properties Inc
(260) 359-9384
125 Stadium Drive
Huntington, IN
 
Storaway
(260) 356-7155
325 Commerce Drive
Huntington, IN
 
C Stephan Trucking Inc
(260) 344-1762
7764 North 600 West
Huntington, IN
 
Elzey Storage Units
(260) 356-5512
850 South Briant Street
Huntington, IN
 
Grand Rental Station U Store
(260) 356-7368
1621 South Jefferson Street
Huntington, IN
 
Scott Enterprise Inc
(260) 358-8198
1124 East Franklin Street
Huntington, IN
 
Cline Transfer And Storage Co
(260) 356-8510
561 Condit Street
Huntington, IN
 
North East Sewer Services Inc
(260) 356-1150
1 Hitzfield Street
Huntington, IN
 
U-haul Co.
(260) 356-4736
4957 N Broadway St
Huntington, IN
 

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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