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Truck Leasing Pros and Cons Rolling Meadows IL

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.

Olsen Bros Inc
(773) 286-8100
3650 Industrial Avenue
Rolling Mdws, IL
 
Marilyn Dopler Remax Crossroads
(847) 797-2286
5001 Newport Drive
Rolling Meadows, IL
 
Mayflower Agency
(847) 394-1900
3650 Industrial Avenue Suite C
Rolling Mdws, IL
 
Budget Rent A Car
(847) 398-2080
3405 Algonquin Road
Rolling Meadows, IL
 
Budget Truck Rental - Truck Rental Reservations
(847) 259-1596
900 West Euclid Avenue
Arlington Heights, IL
 
Olsen Brothers Inc
(847) 272-3388
3650 Industrial Avenue Suite C
Rolling Mdws, IL
 
Fibre Box Association
(847) 364-9600
10 Gould Centre
Rolling Meadows, IL
 
Shurgard Self Storage
(847) 870-7060
945 Rohlwing Road
Rolling Mdws, IL
 
Uhaul Co
(847) 259-1323
2785 Algonquin Road
Rolling Mdws, IL
 
City Supply CO
(847) 981-0994
1528 South Chesterfield Drive
Arlington Heights, IL
 

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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