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Truck Leasing Pros and Cons Los Lunas 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.

Secure Self Storage Inc
(505) 565-4444
801 Emilio Lopez Road Northwest
Los Lunas, NM
 
Uhaul Co Independent Dealers Los Lunas
(505) 866-1198
73 Meadow Lake Rd
Los Lunas, NM
 
Allpine Moulding CO
(505) 865-9630
3332 State Highway 47
Los Lunas, NM
 
Tumbleweed Self Storage And Rv Park
(505) 865-1302
738 Meadow Lake Road
Los Lunas, NM
 
Westside Storage
(505) 865-3456
1009 Main Street Southwest
Los Lunas, NM
 
Uhaul Co
(505) 866-1198
73 Meadow Lake Rd
Los Lunas, NM
 
Uhaul
(505) 865-7526
3112 State Highway 47
Los Lunas, NM
 
Aunt Minnies Self Storage
(505) 865-1300
1828 Los Lentes Road Southeast
Los Lunas, NM
 
Del Rio Self Storage
(505) 866-5452
5000 Highway 314 Southwest
Los Lunas, NM
 
Stillwell Coin Laundry
(505) 865-9384
455 Highway 314 Southwest
Los Lunas, 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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