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Truck Leasing Pros and Cons Provo 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.

Engineers Transport Inc
(801) 377-5025
2075 West Center Street
Provo, UT
Ready Movers
(801) 377-7218
Provo, UT
D & L Corporation
(801) 377-5030
2075 West Center Street
Provo, UT
Liberty Storage
(801) 356-0555
1081 West 100 South
Provo, UT
Trolley Trax Storage
(801) 373-1778
1901 West 820 North
Provo, UT
U-Haul Co
(801) 374-1452
1620 W Center St
Provo, UT
U-haul Co.
(801) 375-0350
375 S Freedom Blvd
Provo, UT
Budget Truck Rental - Truck Rental Reservations
(801) 374-8224
290 South 500 West
Provo, UT
AAA Lakeside Storage
(801) 377-5900
4095 West Center Street
Provo, UT
Sugar House Moving & Storage
(801) 371-0987
2075 West Center Street
Provo, 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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