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Truck Leasing Pros and Cons Pryor OK

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.

N.E. Oklahoma Movers- Inc.
(918) 825-0637
PO Box 494
Pryor, OK
S and J Plumbing
(918) 825-3000
1028 West Graham Avenue
Pryor, OK
Chambers Bob Insurance
(918) 825-4730
13 North Adair Street
Pryor, OK
Stow Away Mini Storage
(918) 825-3709
Highway 20 East
Pryor, OK
Budget Truck Rental
(918) 825-5090
112 North Mill Street
Pryor, OK
T & L Storage
(918) 825-0101
2200 South Elliott Street
Pryor, OK
N.E. Oklahoma Movers, Inc.
(918) 825-0637
PO Box 494
Pryor, OK
Mike's Mini Storage
(918) 824-1523
1511 Northeast 1st Street
Pryor, OK
Tiger Self Storage LLC
(918) 825-7300
1531 East Graham Avenue
Pryor, OK
Mike's Vending
(918) 825-6360
200 Park Street
Pryor, OK

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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