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Truck Leasing Pros and Cons Kalamazoo MI

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.

Corrigan Moving Systems
(269) 341-4000
2920 Business One Drive
Kalamazoo, MI
 
Vandermeer Louis Moving Co
(269) 343-5194
3997 North 28th Street
Kalamazoo, MI
 
Paragon Storage Llc
(269) 383-7113
631 2nd Street
Kalamazoo, MI
 
Lakewood Storage
(269) 385-0110
1233 Healy Street
Kalamazoo, MI
 
Uhaul Co
(616) 344-2775
3500 Gull Rd
Kalamazoo, MI
 
National Mini Storage
(269) 382-5666
3330 Gull Road
Kalamazoo, MI
 
Kandler Tool CO
(269) 343-8286
5501 King Highway
Kalamazoo, MI
 
Hastings Truck Company Inc
(269) 343-1875
738 East Walnut Street
Kalamazoo, MI
 
Agent For Allied Van Lines
(269) 345-6111
628 2nd Street
Kalamazoo, MI
 
Arcadia Archives
(269) 343-5533
309 East Water Street
Kalamazoo, MI
 

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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