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Truck Leasing Pros and Cons Jackson MS

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.

U-Haul
(601) 353-2153
400 West Amite Street
Jackson, MS
 
Jackson Paper CO
(601) 360-9620
197 North Gallatin Street
Jackson, MS
 
Leo Mcgehee Moving And Storage Co
(601) 922-8521
5570 Jr Lynch Extension
Jackson, MS
 
Richland Storage Center
(601) 932-3299
1895 Highway 49 South
Jackson, MS
 
Modern Ministorage Inc
(601) 932-2098
2034 Highway 49 South
Jackson, MS
 
Midcity Mini Storage
(601) 353-9825
725 West Monument Street
Jackson, MS
 
May And Co Inc
(601) 354-5781
838 West Capitol Street
Jackson, MS
 
Mississippi Van Lines
(601) 922-8521
5570 Jr Lynch Extension
Jackson, MS
 
Independent Freightway
(601) 939-4323
430 Highway 80 East
Jackson, MS
 
Warehousing Central Llc
(601) 664-2700
Country Place Ofc
Jackson, MS
 

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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