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Truck Leasing Pros and Cons Lebanon TN

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.

U-haul Co.
(615) 547-0663
1325 W Main St
Lebanon, TN
 
TPS Highland Self Storage
(615) 444-8755
610 South Cumberland Street
Lebanon, TN
 
Hunters Creek Self Storage
(615) 444-4324
100 Hunters Creek Boulevard
Lebanon, TN
 
Titan Gate & Fence CO
(615) 449-1944
500 East Main Street
Lebanon, TN
 
U-Haul CO - Independent Dealers- Lebanon
(615) 547-1822
321B South Cumberland Street
Lebanon, TN
 
Eatherly Cliff Trucking & Excavating CO
(615) 444-4888
Highway 70
Lebanon, TN
 
Fortune Plastics of Tennessee
(615) 444-4004
310 Hartman Drive
Lebanon, TN
 
Phil's Moving Service
(615) 443-0198
5012 Old Rome Pike
Lebanon, TN
 
A A A Self Storage
(615) 449-5425
105 Cedarwood Drive
Lebanon, TN
 
L & J Equipment Inc
(615) 449-8494
2550 Africa Road
Lebanon, TN
 

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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