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Truck Leasing Pros and Cons Meridian MS

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.

Queen City Mini Storage
(601) 681-6100
8569 Highway 39
Meridian, MS
Queen City Mini Storages
(601) 483-5222
5915 Dogwood Drive
Meridian, MS
Graham Transfer & Storage CO
(601) 693-4933
2108 A St
Meridian, MS
Budget Truck Rental
(601) 482-2537
1403 Roebuck Drive
Meridian, MS
Davidson Hauling And Construction
(601) 482-1815
989 Northeast Industrial Park Road
Meridian, MS
Broadmoor Mini Storage
(601) 485-5900
4824 Poplar Springs Place
Meridian, MS
Interstate Merchandise Warehouse Inc
(601) 482-7624
208 Old 29th Avenue
Meridian, MS
Collinsville Ministorage
(601) 626-7064
11350 Hamrick Road West
Meridian, MS
Mathis Superette And Laundromat
(601) 485-9426
Valley Road
Meridian, MS
Colonial Storage Centers
(601) 485-4131
3415 Highway 45 North
Meridian, MS

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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