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Truck Leasing Pros and Cons Kaysville UT

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.

Inside-Out Storage
(801) 547-8762
715 East 1000 South
Kaysville, UT
Burton Lane Storage
(801) 544-9244
97 West Burton Lane
Kaysville, UT
Lock Tight Storage
(801) 773-4848
2148 North Hill Field Road # 7
Layton, UT
Smedley Storage
(801) 544-1249
747 East Highway 193
Layton, UT
B & D Lift Trucks
(801) 771-8075
3185 North 675 East
Layton, UT
U Lock It Storage
(801) 544-5070
532 Market Street
Kaysville, UT
(801) 444-7112
1480 Willow Drive
Kaysville, UT
Backus Greg Construction
(801) 544-0785
751 Marshall Way
Layton, UT
V I P Storage Units
(801) 546-2488
344 North Main Street
Layton, UT
A Fairfield Storage
(801) 771-3881
2951 North Fairfield Road
Layton, UT

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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