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Truck Leasing Pros and Cons North Pole AK

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.

Uhaul Co.
(907) 488-2812
3349 Claude St
North Pole, AK
9 Mile Mini Storage
(907) 488-2508
2005 Richardson Highway
North Pole, AK
Sourdough Express
(907) 452-1181
600 Driveway St.
Fairbanks, AK
Sourdough Express Inc
(907) 452-1181
600 Driveway Street
Fairbanks, AK
Pacific Movers
(907) 452-3663
3420 Industrial Avenue
Fairbanks, AK
Hideaway Self Storage
(907) 488-5530
1725 Richardson Highway
North Pole, AK
H And S Warehouse Inc
(907) 452-1286
1426 Well Street
Fairbanks, AK
Interior Transportation Inc
(907) 451-7485
3420 Industrial Avenue
Fairbanks, AK
Uhaul Co
(907) 457-2149
350 Steese Highway North
Fairbanks, AK
Stevens Worldwide Van Lines Agent
(907) 451-0282
1922 Livengood Avenue
Fairbanks, AK

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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