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Truck Leasing Pros and Cons Pewaukee 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.

The Ups Store
(262) 746-9170
1405 Capitol Drive
Pewaukee, WI
Mayflower Agency-Boulevard Moving & Storage Co
(262) 547-5900
N25W23040 Paul Road
Pewaukee, WI
Penske Truck Rental
(262) 695-2202
1270 Hickory Street
Pewaukee, WI
Scenic Self Storage
(262) 522-6798
900 Silvernail Road
Pewaukee, WI
North American Van Lines Interstate Agent
(262) 650-1540
N26W23445 Paul Road
Pewaukee, WI
U-Haul CO - Pewaukee- Independent Dealers
(262) 695-1273
1256 Capitol Drive Suite 600
Pewaukee, WI
Reeling Cart & Case
(262) 691-4347
440 Oakton Avenue
Pewaukee, WI
Boulevard Moving & Storage
(262) 547-5900
N25W23040 Paul Rd
Pewaukee, WI
Silvernail Development
(262) 542-8833
900 Silvernail Road
Pewaukee, WI
Fairway Transit
(262) 542-4281
930 Silvernail Road
Pewaukee, 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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