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Truck Leasing Pros and Cons Rio Rancho NM

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.

Guardian Storage
(505) 771-8789
4101 Fulcrum Way Northeast
Rio Rancho, NM
Stagecoach Stop Self Storage And Rv Resort And Rv Strge
(505) 867-1000
3650 State Highway 528 Northeast
Rio Rancho, NM
Storage Storage
(505) 891-8800
110 Industrial Park Loop
Rio Rancho, NM
Rio Rancho Storage
(505) 892-1979
4220 Sara Road Southeast
Rio Rancho, NM
Vista Hills Storage
(505) 892-8665
128 Frontage Road Northeast
Rio Rancho, NM
Mail Boxes Etc - Rio Rancho
(505) 771-2810
7820 Enchanted Hills Drive North
Rio Rancho, NM
The Upsstore
(505) 771-2810
7820 Enchanted Hills Drive North
Rio Rancho, NM
Uhaul Co.
(505) 994-8672
1906 Golf Course Rd Se
Rio Rancho, NM
A1 Self Storage
(505) 892-6451
116 Industrial Park Place North
Rio Rancho, NM
Masthead International
(505) 890-7103
700 Quantum Road Northeast
Rio Rancho, NM

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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