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Truck Leasing Pros and Cons Pell City AL

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.

Riverside Mini Warehouses
(205) 338-4743
12100 USHighway 78 At I 2
Pell City, AL
 
Hands Storage
(205) 338-6253
4009 Cogswell Avenue
Pell City, AL
 
Shelving Design Systems
(205) 338-3737
19250 USHighway 231
Pell City, AL
 
Coal City Mini Storage
(205) 814-3833
365 Deerbrook Road
Pell City, AL
 
Your Extra Attic
(205) 884-2278
2307 Martin Street South
Pell City, AL
 
Uhaul Co.
(205) 338-1751
2632 Martin St S
Pell City, AL
 
Interstate Freight Inc
(205) 328-3285
Highway 174 West
Pell City, AL
 
Pell City Mini Storage
(205) 884-0330
2632 Martin Street South
Pell City, AL
 
Womack Trucking Inc
(205) 338-8457
3308 Drive John Haynes Drive
Pell City, AL
 
Uhaul Co
(205) 814-1491
790 Mineral Springs Rd
Pell City, AL
 

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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