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Truck Leasing Pros and Cons Park Ridge IL

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.

Allied Van Lines, Inc.
(800) 470-2851
P.O. Box 4403
Chicago, IL

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Mail Boxes Etc Park Ridge
(847) 823-1791
301 Grant Place
Park Ridge, IL
Ezrect Manufacturing Limited
(847) 823-9700
1111 South Washington Avenue
Park Ridge, IL
JJ Express
(708) 867-3760
4430 North New England Avenue
Harwood Heights, IL
Budget Truck Rental
(847) 692-7969
742 Higgins Road
Park Ridge, IL
Material Systems Inc
(773) 631-1451
7109 West Higgins Avenue
Chicago, IL
Lytwyn Movers
(708) 867-7095
6604 W Montrose Ave
Harwood Heights, IL
Harwood Self Storage
(708) 867-0044
4750 North Ronald Street
Chicago, IL
Deluxe Packaging
(847) 823-5777
2 West Talcott Road Suite 33
Park Ridge, IL
Mail Boxes Etc - Park Ridge
(847) 825-3700
310 Busse Highway
Park Ridge, IL
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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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