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Truck Leasing Pros and Cons Nottingham MD

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.

Orly Moving Systems, Inc.
(800) 646-2228
300 Resiterstown Rd. Suite 204
Baltimore, MD

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Storage USA
(410) 668-1944
8115 Perry Hills Court
Nottingham, MD
 
Budget Car Rental - Baltimore Metro Reservations- Reservations- Ove
(410) 668-9999
7682 Belair Road
Nottingham, MD
 
Fullerton Mini Storage
(410) 665-8118
7979 Rossville Blvd
Nottingham, MD
 
U-Haul CO - Independent Dealers- Baltimore
(410) 668-5682
7750 Rossville Boulevard
Nottingham, MD
 
Public Storage
(410) 665-1422
7 Wever Road
Nottingham, MD
 
Five Star Rent-A-Car
(410) 661-6358
8115 Belair
Baltimore, MD
 
Perry Hall Self Storage
(410) 665-2700
7750 Rossville Boulevard
Nottingham, MD
 
U-Haul
(410) 668-0376
7989 Rossville Boulevard
Nottingham, MD
 
Alexanders Mobility Services
(410) 933-3578
10001 Franklin Square Drive Suite H
Nottingham, MD
 
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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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