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Truck Leasing Pros and Cons Lebanon MO

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.

Bills Farm And Home
(417) 532-7158
1680 West Elm Street
Lebanon, MO
 
Budget Truck Rental - Truck Rental Reservations
(417) 532-3334
935 South Jefferson Avenue
Lebanon, MO
 
A And B Moving And Storage
(417) 532-5762
710 Kenoly Street
Lebanon, MO
 
Storage Max
(417) 532-4927
27002 Highway 32
Lebanon, MO
 
Mikes Country Store And Deli
(417) 532-6701
30691 Highway 5
Lebanon, MO
 
Moving Company
(417) 533-3525
124 West Commercial Street
Lebanon, MO
 
Uhaul Co
(417) 588-9092
22399 Route 66
Lebanon, MO
 
Budget Truck Rental Truck Rental Reservations
(417) 533-5200
679 West Elm Street Suite 9
Lebanon, MO
 
U-Haul CO - Independent Dealers- Lebanon
(417) 532-2854
1850 West Elm Street
Lebanon, MO
 
Eilenstine Kenny Excavating
(417) 532-7469
22605 Route 66
Lebanon, MO
 

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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