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Truck Leasing Pros and Cons New Ulm 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.

Goosetown Storage
(507) 354-2662
1 South Valley Street
New Ulm, MN
 
Crystal Valley Cooperative Lp Gas And Petroleum
(507) 359-4355
800 N Front St
New Ulm, MN
 
U-Haul CO
(507) 359-3896
1700 South Broadway Street
New Ulm, MN
 
Uhaul Co.
(507) 359-4355
800 N Front St
New Ulm, MN
 
Cottonwood Storage
(507) 359-1453
13496 County Road 25
New Ulm, MN
 
Schugel J And R Trucking Inc
(507) 359-2037
2026 North Broadway Street
New Ulm, MN
 
River Valley Storage
(507) 354-6033
62122 County Road 21
New Ulm, MN
 
Minnesota Valley Transport Inc
(507) 354-3276
301 Water Street
New Ulm, MN
 
Aschenbrenner Gary Trucking
(507) 233-2539
219 12th Street South
New Ulm, MN
 
M And J Mini Storage
(507) 359-8800
2000 South Broadway Street
New Ulm, 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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