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Truck Leasing Pros and Cons Lynn MA

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.

Gentle Giant Moving Co
(617) 661-3333
29 Harding Street
Somerville, MA

Data Provided by:
U-haul Center Of Lynn
(781) 593-5455
282 Lynnway
Lynn, MA
 
Bay State Moving Company Inc
(781) 599-4300
330 Lynnway
Lynn, MA
 
Public Storage
(781) 592-0471
595 Lynnway
Lynn, MA
 
Extra Space Storage Of Lynn
(781) 596-1890
583 Lynnway
Lynn, MA
 
Harrington Moving And Storage Associates Llc
(978) 475-7071
17-18 Dundee Pk-P.O. Box 1717
Andover, MA

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Joseph Puzzo & Sons
(781) 595-3488
61 Brookline Street
Lynn, MA
 
C. Bain- Inc.
(781) 592-8020
154 Pleasant St
Lynn, MA
 
Space Rental Inc
(781) 593-4310
164 Blossom Street
Lynn, MA
 
Atlas Interstate Agent
(781) 593-7950
Lynn, MA
 
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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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