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Truck Leasing Pros and Cons Pleasant Grove UT

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.

Skyline Self Storage
(801) 785-3534
455 South 100 East
Pleasant Grove, UT
Deseret Storage
(801) 785-1363
135 South Pleasant Grove Boulevard
Pleasant Grove, UT
Redman Van & Storage CO
(801) 785-0851
950 West Center Street
Lindon, UT
Wasatch Portable Storage
(801) 796-8055
1075 West 135 South
Lindon, UT
Kerr Enterprises
(801) 796-5390
420 North Geneva Road
Lindon, UT
Blue Ribbon Storage
(801) 785-1243
502 West 700 South
Pleasant Grove, UT
Safe & Secure Self Storage
(801) 796-5401
426 North 2000 West
Lindon, UT
Mountain Pacific Transport
(801) 785-7214
50 North Geneva Road
Lindon, UT
Lindon Storage Center
(801) 785-0520
98 South State Street
Lindon, UT
ADR Packaging
(801) 796-3700
925 West 325 North
Lindon, UT

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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