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Truck Leasing Pros and Cons Pikeville KY

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.

Johnny Charles Mobile Home Movers
(606) 432-8464
4602 Zebulon Highway
Pikeville, KY
Tooley Trucking CO
(606) 437-9820
Branham Heights
Pikeville, KY
Ratliff Moving And Delivery
(606) 437-7707
117 Scott Avenue
Pikeville, KY
Charles Johnny Mobile Home Movers
(606) 432-8464
4602 Zebulon Highway
Pikeville, KY
J And J Enterprises
(606) 631-4389
4512 State Highway 194 East
Kimper, KY
Pikeville Mini Storage Inc
(606) 437-9974
278 S Mayo Tr
Pikeville, KY
East KY House Movers
(606) 437-9327
550 Weddington Branch Road
Pikeville, KY
Nanack Inc Mini Warehouse Storage
(606) 432-5536
Airport Road
Pikeville, KY
Uhaul Co.
(606) 478-4285
359 Conn St
Ivel, KY
Little Joe Trucking
(606) 631-7710
4104 State Highway 194 East
Kimper, KY

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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