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Truck Leasing Pros and Cons Lenoir City 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.

Lenoir City Self Storage
(865) 588-6529
770 Highway 321 North
Lenoir City, TN
 
Dixie Lee Storage
(865) 988-6696
19668 Highway 11 East Suite B
Lenoir City, TN
 
Budget Truck Rental
(865) 986-7016
321 Leeper Parkway
Lenoir City, TN
 
Crossroads Ministorage
(865) 988-6073
201 Highway 70 West
Lenoir City, TN
 
U-haul Co.
(865) 988-3149
801 E Broadway St
Lenoir City, TN
 
Affordable Moves Inc
(865) 986-7384
11363 Highway 11 East
Lenoir City, TN
 
Loudon County Rentals & Mini Storage Inc
(865) 988-4403
1180 Simpson Road West
Lenoir City, TN
 
A J Bell Inc
(865) 986-3316
8500 Jackson Bend Road
Lenoir City, TN
 
AAA Pioneer Self Storage
(865) 986-1501
New Highway 95 & 321
Lenoir City, TN
 
U-Haul CO - Independent Dealers- Lenoir City
(865) 988-3990
1216 Highway 321 North
Lenoir City, 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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