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Truck Leasing Pros and Cons Menomonee Falls 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.

Federal Companies
(262) 250-2424
W140N9000 Lilly Road
Menomonee Falls, WI
 
Cross Town Moving
(262) 253-4843
Menomonee Falls, WI
 
E-Z Self Storage
(262) 252-3737
14944 Bobolink Avenue
Menomonee Falls, WI
 
Pit Stop Self Storage
(414) 354-9619
8805 North 107th Street
Milwaukee, WI
 
Milwaukee Moving Systems
(414) 354-7750
10700 West Brown Deer Road
Milwaukee, WI
 
Federal Whalen Moving & Storage CO
(262) 250-9157
9000 Lilly Road
Menomonee Falls, WI
 
U-Haul Co
(262) 253-1255
N87 W14971 Main St
Menomonee Falls, WI
 
Arrow Carton Company
(262) 255-7244
W196N7551 F & W Court
Lannon, WI
 
Bekin's Agent
(414) 355-6683
10700 West Brown Deer Road
Milwaukee, WI
 
Stack & Store Systems Inc
(414) 362-7825
8800 West Dean Road
Milwaukee, 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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