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Truck Leasing Pros and Cons Oak Ridge TN

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.

Fox Self Storage
(865) 425-0717
104 Melton Lake Drive
Oak Ridge, TN
 
Barnhart Crane & Rigging CO
(865) 535-1980
100 Crane Lane
Oak Ridge, TN
 
Rainbow Florist
(865) 482-4951
977 Oak Ridge Turnpike # A
Oak Ridge, TN
 
The Ups Store
(865) 220-9782
1133 Oak Ridge Turnpike Suite C
Oak Ridge, TN
 
Dodson's Moving & Storage Co Inc
(865) 483-6336
335 Warehouse Road
Oak Ridge, TN
 
Melton Lake Self Storage Inc
(865) 482-8330
124 Melton Lake Drive
Oak Ridge, TN
 
U-Haul CO - Independent Dealers- Oak Ridge
(865) 482-7781
798 Oak Ridge Turnpike
Oak Ridge, TN
 
Hildreth Howard Insurance & Realty CO
(865) 483-8476
206 Manhattan Avenue
Oak Ridge, TN
 
Oak Ridge Storage
(865) 482-5353
500 Scarboro Lane
Oak Ridge, TN
 
Mail Boxes Etc
(865) 220-9782
1133 Oak Ridge Turnpike Suite C
Oak Ridge, TN
 

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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