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Truck Leasing Pros and Cons Lumberton NC

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 - Independent Dealers- Lumberton
(910) 738-4309
1209 East 5th Street
Lumberton, NC
E-Z Moving & Storage
(910) 618-9007
878 Old Whiteville Road
Lumberton, NC
Budget Truck Rental
(910) 738-4073
3693 Cox Road
Lumberton, NC
Cape Fear Construction CO Inc
(910) 738-7246
1501 Starlite Drive
Lumberton, NC
Hannah Mini Storages Inc
(910) 628-5008
304 Stephens Street
Fairmont, NC
A A A Moving & Storage Inc
(910) 671-9061
Lumberton, NC
Charwill Self Storage
(910) 739-1863
2171 Gavintown Road
Lumberton, NC
Budget Truck Rental
(910) 272-9172
2501 East Elizabethtown Road
Lumberton, NC
Certified Construction Services Inc
(910) 739-3321
9820 USHighway 301 North
Lumberton, NC
U-Haul CO - Independent Dealers- Fairmont
(910) 628-1003
Highway 41 North
Fairmont, NC

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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