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Truck Leasing Pros and Cons Oconomowoc WI

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.

U-haul Co.
(262) 567-3184
1383 W Wisconsin Ave
Oconomowoc, WI
Oconomowoc Realty
(262) 567-3611
156 East Wisconsin Avenue
Oconomowoc, WI
Brothers Self Storage
(262) 567-1100
N5850 Trek Trail
Oconomowoc, WI
K M Self Storage
(262) 968-9002
Hy 18 & Centre South
Oconomowoc, WI
Industrial Vacuum Equipment Corporation
(920) 261-1136
N8091 Maple Street
Ixonia, WI
Budget Truck Rental - Truck Rental Reservations
(262) 567-4068
363 West Wisconsin Avenue
Oconomowoc, WI
AA Advantage Self Storage of Ixonia
(262) 567-9255
238 North Lake Road
Oconomowoc, WI
Oconomowoc Auto Sales Limited
(262) 567-3184
1381 West Wisconsin Avenue
Oconomowoc, WI
Herro Michael RL Estate
(262) 567-3611
156 East Wisconsin Avenue
Oconomowoc, WI
Northwest Mini Storage
(262) 369-3944
2933 Highway 175
Hartland, WI

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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