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Truck Leasing Pros and Cons Lawrence KS

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.

Az Enterprises
(785) 841-6254
1535 Massachusetts Street
Lawrence, KS
A1 Mini Storage
(785) 842-8411
816 Lynn Street
Lawrence, KS
Professional Moving And Storage Inc
(785) 842-1115
431 North Iowa Street
Lawrence, KS
B C And R Storage Co Inc
(785) 842-3858
1321 North 3rd Street
Lawrence, KS
Certified Moving Specialists
(785) 856-3938
836 Pennsylvania Street
Lawrence, KS
Starving Artists Moving
(913) 227-0567
945 Illinois Street
Lawrence, KS
Kings North American
(785) 843-0906
734 Vermont Street
Lawrence, KS
Uhaul Co.
(785) 843-8043
845 Iowa St
Lawrence, KS
Robinson Storage
(785) 843-8062
827 Maple Street
Lawrence, KS
Quality Tow and Recovery LLC
(785) 865-1624
529 Maple Street
Lawrence, KS

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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