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Truck Leasing Pros and Cons Milford CT

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.

A Surrogate Wheels Of Milford
(203) 878-1726
207 Naugatuck Avenue
Milford, CT
A Discount Moving & Storage
(203) 878-6010
Po Box 330
Milford, CT
Ez Access Self Storage
(203) 877-2050
540 New Haven Avenue
Milford, CT
Budget Truck Rental
(203) 877-5020
554 Boston Post Road
Milford, CT
U-Store It
(203) 878-1331
90 Rowe Avenue
Milford, CT
Hacienda Storage
(203) 876-2600
125 Old Gate Lane
Milford, CT
Jefferson Smurfit Corporation
(203) 876-6900
75 Cascade Boulevard
Milford, CT
Penske Truck Rental
(203) 877-2295
Milford, CT
Greencycle Grillo
(203) 877-5070
1183 Oronoque Road
Milford, CT
Halstead Transportation
(203) 877-5687
105 Quirk Road
Milford, CT

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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