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Truck Leasing Pros and Cons Pikesville MD

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.

Orly Moving Systems, Inc.
(800) 646-2228
300 Resiterstown Rd. Suite 204
Baltimore, MD

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Movers Plus
(410) 415-6199
3221 Marnat Road
Baltimore, MD
 
Budget Car Rental - Baltimore Metro Reservations- Owings Mills
(410) 902-8360
25 Hooks Lane
Pikesville, MD
 
Mail Boxes Etc
(410) 486-0030
1498 Reisterstown Road Suite M
Baltimore, MD
 
J Kelly Moving & Storage Inc
(410) 367-5522
2926 Ridgewood Avenue
Baltimore, MD
 
Orange Moving & Storage Inc
(410) 484-4237
300 Reisterstown
Baltimore, MD
 
Bridgestreet Corporate Housing
(410) 296-0900
1421 Clarkview Road Suite 200
Baltimore, MD
 
Hertz Corporation
(410) 363-0233
10563 Metropolitan Avenue
Pikesville, MD
 
Uhaul Co.
(410) 653-3537
806 Reisterstown Rd
Pikesville, MD
 
U-Haul Co
(410) 466-2072
5210 Fairlawn Ave
Baltimore, MD
 
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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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