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Truck Leasing Pros and Cons Makawao HI

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.

Car Barn
(808) 575-9008
1235 West Kuiaha Road # B
Haiku, HI
Smooth Systems
(808) 876-0914
780 Lower Kula Road
Kula, HI
Laser Time Smile
(808) 871-7447
Kahului, HI
Five A Rentaspace Kahului
(808) 877-0344
347 Ano Street
Kahului, HI
U-Haul CO - Independent Dealers- Kahului
(808) 871-6601
150 Hana Highway Building 2
Kahului, HI
Uhaul Co.
(808) 575-9663
810 Haiku Rd
Haiku, HI
Farida Oreve Realtor (S) - ERA Maui Real Estate
(808) 344-1185
P.O. Box 791016
Paia, HI
Pacific Shelving Company Admin Office
(808) 871-6601
150 Hana Hwy
Kahului, HI
Five A Rent-A-Space - Kahului
(808) 877-2600
340 Ala Makani Street
Kahului, HI
Uhaul Co.
(808) 871-6601
150 Hana Hwy
Kahului, HI

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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