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Truck Leasing Pros and Cons Las Cruces NM

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.

Vacuum Cleaner Specialists Inc
(505) 524-9412
855 Spruce Avenue
Las Cruces, NM
 
U-Haul Co
(505) 525-0053
101 N Walnut St
Las Cruces, NM
 
A Rawson Self Storage
(505) 527-0808
1103 North Solano Drive
Las Cruces, NM
 
Lohman Selfstorage
(505) 523-4555
2209 East Lohman Avenue
Las Cruces, NM
 
Colonial Storage Centers
(505) 523-1228
2305 East Lohman Avenue
Las Cruces, NM
 
Fabulous Finds
(505) 524-8963
1029 Spruce Avenue
Las Cruces, NM
 
Advanced RV Storage
(505) 373-2400
5500 Del Rey Boulevard
Las Cruces, NM
 
Picture Frame Factory Outlet
(505) 526-4048
382 South Walnut Street
Las Cruces, NM
 
Aidahob Self Storage
(505) 526-2590
1320 East Idaho Avenue
Las Cruces, NM
 
Jamie Stull Storage Units
(505) 522-5528
1546 Missouri Avenue
Las Cruces, NM
 

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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