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Truck Leasing Pros and Cons Newport KY

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.

Hosea Project Movers
(859) 356-8900
3951 Madison Pike
Covington, KY

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A1 Approved Veterans Moving
(859) 431-6585
505 York Street
Newport, KY
 
Dahlenburg Moving CO
(859) 431-3244
511 Patton Street
Covington, KY
 
U-Haul Co
(859) 431-5729
706 York St
Newport, KY
 
Uhaul Co.
(859) 781-8627
4601 Alexandria Pike
Cold Spring, KY
 
Newport Self Storage And Suites
(859) 581-7771
515 West 9th Street
Newport, KY
 
Panasonic Vacuum Sales And Service
(859) 491-2748
2001 Greenup Street
Covington, KY
 
AA Self Storage
(859) 572-0105
1615 Licking Pike
Cold Spring, KY
 
Hedger BROS Speed Shop
(859) 491-5131
410 East 15th Street
Covington, KY
 
Uhaul Co Independent Dealers Campbell Cty Ky
(859) 694-1540
5720 Alexandria Pike
Cold Spring, KY
 
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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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