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Truck Leasing Pros and Cons Saint Joseph MO

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.

Brickey Zane
(816) 279-6368
519 Main Street
Saint Joseph, MO
 
Brown Business Systems Inc
(816) 279-0855
920 South 6th Street
Saint Joseph, MO
 
Martin Express Moving
(816) 279-0681
518 North 7th Street
Saint Joseph, MO
 
St Joseph Fuel Oil And Mfg Co
(816) 279-2791
1207 South 4th Street
Saint Joseph, MO
 
Kruses Auto Center
(816) 364-5939
901 North 4th Street
Saint Joseph, MO
 
Prompt Carpet & Upholstery Cleaning
(816) 279-0681
518 North 7th Street
Saint Joseph, MO
 
Bags And Boxes Ii
(816) 233-5050
205 North 2nd Street
Saint Joseph, MO
 
Pony Express Warehousing Inc
(816) 232-2435
415 Oak Street
Saint Joseph, MO
 
Lawhon Construction CO
(816) 279-6368
519 Main Street
Saint Joseph, MO
 
U-haul Co.
(816) 387-8300
3416 Pear St
Saint Joseph, MO
 

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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