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Truck Leasing Pros and Cons Laramie WY

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.

B & C Secured Storage
(307) 745-0818
453 North 3rd Street
Laramie, WY
Breazeale Manufactured Home Community
(307) 742-6223
2458 North 9th Street Ofc
Laramie, WY
High Plains Freezer Services Inc
(307) 742-6649
575 Snowy Range Road
Laramie, WY
Braisted Kenneth MVRS
(307) 745-9294
104 Fetterman Street
Laramie, WY
Downtown Storage
(307) 745-9545
701 South 4th Street Apt B
Laramie, WY
Wheat Enterprises
(307) 742-2856
Po Box 1557
Laramie, WY
U-Haul CO - Independent Dealers- Laramie
(307) 721-5825
860 North 3rd Street
Laramie, WY
Stouffer Construction Inc
(307) 742-4300
2 Meadow Acres Road
Laramie, WY
Burgener Brothers Inc
(307) 721-5099
4636 South 3rd Street
Laramie, WY
South Park Motor Lines
(307) 742-5224
217 South 1st Street
Laramie, WY

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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