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Truck Leasing Pros and Cons Roanoke Rapids NC

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.

Bobby Fox Auto Center Inc
(252) 537-0800
2155 USHighway 158
Roanoke Rapids, NC
 
Price M J Construction CO Inc
(252) 537-0244
557 Sam Powell Road
Roanoke Rapids, NC
 
Fox Mini Storage
(252) 537-0800
2155 USHighway 158
Roanoke Rapids, NC
 
Old Farm Road Self Storage
(252) 535-4356
424 South Old Farm Road
Roanoke Rapids, NC
 
U-Haul Co
(252) 537-0194
2155 Us Highway 158
Roanoke Rapids, NC
 
A-1 Lock & Key
(252) 537-9055
706 Drake Street
Roanoke Rapids, NC
 
U-Haul CO - Independent Dealers- Roanoke Rapids
(252) 537-1076
100 Roanoke Avenue
Roanoke Rapids, NC
 
Doughtie Mini-Storage
(252) 537-3255
100 Julian R Allsbrook H
Roanoke Rapids, NC
 
Becker Self Storage
(252) 535-1888
120 Clearfield Drive
Roanoke Rapids, NC
 
Gaston Hardware
(252) 537-3881
206 Lawrenceville Road
Gaston, NC
 

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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