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Truck Leasing Pros and Cons Sewell NJ

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.

Mail Boxes Etc Short Hills
(856) 401-7920
219 Delsea Dr
Sewell, NJ
 
Extra Space Storage
(856) 401-3012
151 Fries Mill Road
Blackwood, NJ
 
U Store It
(856) 589-7285
425 Delsea Drive
Sewell, NJ
 
Chick Finamore
(856) 589-0491
100 Washington Avenue
Pitman, NJ
 
All Purpose Storage Llp
(856) 227-1000
830 Warsaw Ave
Blackwood, NJ
 
Avis Rent A Car Local Rental
(856) 401-7920
219 Delsea Dr
Sewell, NJ
 
Uhaul Co.
(856) 401-7920
219 Delsea Dr
Sewell, NJ
 
Wilsons Moving And Hauling
(856) 589-3588
601 Elm Avenue
Pitman, NJ
 
Super Box By Plant Service Corporation
(856) 589-3336
328 Tylers Mill Road
Pitman, NJ
 
Monarch Self Storage
(856) 227-4711
West Blenheim Avenue
Blackwood, NJ
 

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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