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Truck Leasing Pros and Cons Pekin 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.

(309) 347-5750
1914 North 8th Street
Pekin, IL
Rootermatic Ministorage And Warehousing
(309) 347-8964
706 South 2nd Street
Pekin, IL
Uhaul Co.
(309) 346-5855
2211 Court St
Pekin, IL
Florence Avenue Ministorage
(309) 346-4150
1025 Florence Avenue
Pekin, IL
Uhaul Co
(309) 353-5341
1115 Derby Street
Pekin, IL
Monge Property Management CO Apartment Rentals
(309) 346-4150
1025 Florence Avenue
Pekin, IL
Koch St Mini Storage
(309) 347-1977
1128 Koch Street
Pekin, IL
Woodworkers Shop Inc
(309) 347-5111
Powerton Road
Pekin, IL
Scherer Harold D
(309) 925-3743
102 Pinta Court
Pekin, IL
Sandrock Storage
(309) 382-3000
500 North Main Street
North Pekin, IL

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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