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Truck Leasing Pros and Cons Roswell 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.

American Moving & Storage
(505) 622-3050
901 East 19Th Street
Roswell, NM

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Petroleum Building
(505) 622-5385
200 West 1st Street Suite 400
Roswell, NM
 
Uhaul Co
(505) 622-0615
1021 S Main St
Roswell, NM
 
Planet Storage
(505) 627-0814
101 North Sycamore Avenue
Roswell, NM
 
Roswell Self Storage
(505) 623-8590
505 East 19th Street
Roswell, NM
 
Budget Truck Rental
(505) 623-2712
116 East College Boulevard
Roswell, NM
 
Elwell Construction CO
(505) 624-1821
720 South Sunset Avenue Suite B
Roswell, NM
 
J & L Storage Vans
(505) 622-3050
Roswell, NM
 
Medrano's Trucking
(505) 624-1069
901 West 9th Street
Roswell, NM
 
North Main Selfstorage
(505) 622-5385
3020 North Main Street
Roswell, NM
 
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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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