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Truck Leasing Pros and Cons La Follette TN

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 CO - Independent Dealers- Lafollette
(423) 562-0992
3021 General Carl W Stine
La Follette, TN
Arnold J L Trucking CO
(423) 562-3666
186 Shetland Road
La Follette, TN
Hatmaker Darrin Trucking CO
(423) 562-0609
212 Towe String Road
Jacksboro, TN
Stone Mill Self Storage
(423) 562-1794
255 Stone Mill Road
Jacksboro, TN
Northeast Tennessee Pizza Corporate OFC
(423) 562-1794
255 Stone Mill Road
Jacksboro, TN
Henson Trucking
(423) 562-5656
1422 Old Jacksboro Highway
La Follette, TN
Budget Truck Rental
(423) 562-0916
1708 East Central Avenue
La Follette, TN
All Seasons Self Storage
(423) 566-0055
131 Indian Mound Circle
Jacksboro, TN
TCT Trucking Inc
(423) 562-9864
750 Towe String Road
Jacksboro, TN
Adkins Trucking and Excavating
(423) 562-4628
390 Lake Road
Caryville, TN

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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