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Truck Leasing Pros and Cons Milford OH

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.

Golden Eagle Extrusns Inc
(513) 248-8292
1762 State Route 131
Milford, OH
The Shipping Shop
(513) 831-5855
Milford, OH
Shipping Shop
(513) 831-5855
316 Main Street
Milford, OH
A Rainbow Moving & Storage
(513) 831-7123
1168 State Route 131
Milford, OH
Naish AL Moving & Storage CO
(513) 965-9600
200 Olympic Drive
Milford, OH
Fortress Storage
(513) 831-9150
697 State Route 28
Milford, OH
Day Heights Storage
(513) 831-2082
1360 State Route 131
Milford, OH
Heartland Industries
(513) 831-2400
731 State Route 28
Milford, OH
Milford Self Storage
(513) 248-1000
874 State Route 28
Milford, OH
U-Haul Co
(513) 248-0666
799 State Rt 50
Milford, OH

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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