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Truck Leasing Pros and Cons Mc Minnville TN

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.

Cotten Warehouses
(931) 473-8601
139 Hobson Street
Mc Minnville, TN
Tri-State Development & Insulation CO
(931) 473-8718
335 Garfield Street
Mc Minnville, TN
Southern Central Trailers & Accessories
(931) 668-3132
4178 Manchester Highway
Mc Minnville, TN
E-Z Storage
(931) 668-8044
4530 Manchester Highway
Mc Minnville, TN
J & N Mini Warehouses
(931) 668-9524
2584 Nashville Highway
Mc Minnville, TN
Patios & More Inc & Valley Barn Builders
(931) 815-3330
4357 Sparta Highway
Mc Minnville, TN
D & D Specialty Transport
(931) 507-2526
113 Mount View Avenue
Mc Minnville, TN
Redmon's Mini Storage
(931) 668-4900
2512 Nashville Highway
Mc Minnville, TN
Mobile Attic of TN
(931) 668-3132
4178 Manchester Highway
Mc Minnville, TN
McMinnville Moving & Storage CO
(931) 473-2805
Morrison Road
Mc Minnville, TN

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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