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Truck Leasing Pros and Cons Lansing 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.

Agent Wwwnancydennycom
(517) 702-9000
4106 West Saginaw Highway
Lansing, MI
U-Haul CO - Independent Dealers- Lansing
(517) 886-0122
6439 West Saginaw Highway
Lansing, MI
Stevens Worldwide Van Lines
(616) 452-0550
3000 Sanders Road
Lansing, MI
Capital Box
(517) 322-3700
3524 South Canal Road
Lansing, MI
Ac & E Rentals Inc
(517) 627-2121
5500 West Saginaw Highway
Lansing, MI
Delta Selfstorage
(517) 886-6200
746 Knights Inn Drive
Lansing, MI
A-1 Rent-All Stop
(517) 394-0220
4916 South Cedar Street
Lansing, MI
Uhaul Center Waverly Rd
(517) 316-1001
901 S Waverly Rd
Lansing, MI
Westland Self Storage
(517) 322-2012
4724 South Creyts Road
Lansing, MI
Bekins Agent
(517) 322-2035
3000 Sanders Road
Lansing, 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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