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Truck Leasing Pros and Cons Pontotoc MS

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.

Affordable Mini Storage
(662) 488-8120
166 West Reynolds Street
Pontotoc, MS
 
Pontotoc Auto Glass And Accessories
(662) 489-5893
424 Highway 6 West
Pontotoc, MS
 
U-Haul
(662) 509-7622
9039 Highway 15 North
Ecru, MS
 
Belden Overnight Delivery Service
(662) 844-4428
3820 Belden Pike
Belden, MS
 
Precision Machine And Metal Fabrication
(662) 844-4606
502 Crossover Road
Tupelo, MS
 
A And W Mini Storage
(662) 489-2745
23 Maggie Drive
Pontotoc, MS
 
U-Haul
(662) 489-3775
200 South Main Street
Pontotoc, MS
 
Penske Truck Rental
(662) 844-2245
3094 McCullough Boulevard
Belden, MS
 
Absolute Storage
(662) 844-4787
4850 Cliff Gookin Boulevard
Tupelo, MS
 
Madison Mobile Storage
(662) 842-0603
711 Senter Street
Tupelo, MS
 

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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