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Truck Leasing Pros and Cons Manitowoc WI

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.

Weyerhaeuser Company
(920) 684-4454
2000 South 18th Street
Manitowoc, WI
 
Michael's Fix It & Construction
(920) 684-1595
2827 South 15th Street
Manitowoc, WI
 
Allstates Rigging Inc
(920) 684-9696
2900 Calumet Ave
Manitowoc, WI
 
A & R Mini-Storage
(920) 684-1605
3008 South 26th Street
Manitowoc, WI
 
Manitowoc Disposal & Recycling
(920) 682-7750
1800 Johnston Drive
Manitowoc, WI
 
Cleveland Storage LLC
(920) 682-5236
1077 Maple Street
Manitowoc, WI
 
Manitowoc Electric Motors CO
(920) 684-5040
1925 South 14th Street
Manitowoc, WI
 
Buyer 1st Realty
(920) 758-3023
6228 South Union Road
Manitowoc, WI
 
My'land Mini-Storage
(920) 758-3023
6228 South Union Road
Manitowoc, WI
 
K & M Mini Storage
(920) 684-1595
# 3020S15
Manitowoc, WI
 

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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