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Truck Leasing Pros and Cons Mound MN

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.

Gentlemen Movers
(952) 472-8521
5870 Beachwood Road
Mound, MN
 
Excel Warehousing
(952) 495-8192
5330 Shoreline Drive
Mound, MN
 
Westonka Mini Storage
(952) 471-8028
2351 Kings Road
Spring Park, MN
 
Kelly Cooper
(952) 471-8028
2351 Kings Road
Spring Park, MN
 
Maple Plain Mini Storage
(952) 475-9021
1270 County Road 92
Maple Plain, MN
 
Mound Metro RV & Mini Storage
(952) 472-1910
5300 Shoreline Drive
Mound, MN
 
Uhaul Co.
(952) 472-6404
2603 Commerce Blvd
Mound, MN
 
Blue Lagoon Marine Inc
(952) 471-8000
4470 Shoreline Drive
Spring Park, MN
 
A J-Mini Storage Limited
(952) 446-1168
8833 Kennedy Memorial Drive
Saint Bonifacius, MN
 
Western Spaces Inc
(763) 479-8101
5305 Pioneer Creek Drive
Maple Plain, MN
 

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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