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Truck Leasing Pros and Cons Noblesville IN

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.

The Ups Store
(317) 770-8260
17039 Mercantile Boulevard
Noblesville, IN
 
Gillespies Furniture Unlimited
(765) 734-1139
24260 State Road 37 N
Noblesville, IN
 
Uhaul Co.
(317) 774-0138
21816 State Road 37 N
Noblesville, IN
 
Hobbs Discount Self Storage
(317) 770-9088
83 South 9th Street
Noblesville, IN
 
Jeffs Jam It In Storage
(317) 867-5333
4185 Westfield Road
Noblesville, IN
 
Tuff Shed
(317) 774-2981
15274 Herriman Boulevard
Noblesville, IN
 
Uhaul Co
(317) 758-4761
21575 Us Highway 31
Cicero, IN
 
Indiana Tool & Equipment
(317) 770-9090
1760 South 10th Street
Noblesville, IN
 
Budget Truck Rental - Neighborhood Dealers- North- Noblesville
(317) 773-4920
1372 South 10th Street
Noblesville, IN
 
Heartland Industries Inc
(317) 770-0053
1360 South 10th Street
Noblesville, IN
 

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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