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Truck Leasing Pros and Cons Los Alamos 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.

J & L Self Storage Vans
(505) 662-5430
202 Loma Del Escolar Street
Los Alamos, NM
Trinity Realty
(505) 662-7219
195 East Road Suite 104
Los Alamos, NM
Los Alamos Apartments
(505) 662-0620
1350 Central Avenue
Los Alamos, NM
Real Estate Associates Inc
(505) 662-7717
800 Trinity Drive Suite B
Los Alamos, NM
Bienvenidos Self Storage
(505) 753-8212
1544 A USHighway 285-84
Espanola, NM
Uhaul Co
(505) 661-9947
216 Dp Rd
Los Alamos, NM
TRK Management Inc
(505) 662-0620
1350 Central Avenue
Los Alamos, NM
Rocky Mountain Self Storage
(505) 672-0559
105 Longview Drive
Los Alamos, NM
Sunrise Ceramics
(505) 753-2968
105 Laguna Road
Espanola, NM
Apple Valley Mobile Home Park And Self Storage
(505) 753-7887
606 North Railroad Avenue
Espanola, 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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