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Truck Leasing Pros and Cons Silver City 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.

Skunk Buster Problem Animal Removal
(505) 538-5740
4789 Highway 15
Silver City, NM
 
Topmiller Vic Jr Associates
(505) 538-2923
1609 North Gold Street
Silver City, NM
 
Sun Mountain America Inc
(505) 538-2923
1609 North Gold Street
Silver City, NM
 
Lehmer Taxidermy
(505) 538-5740
4789 Highway 15
Silver City, NM
 
Griffins Propane Inc
(505) 388-4433
2334 Ranch Club Road
Silver City, NM
 
Oakridge Home Industries
(505) 388-1842
1400 North Pinos Altos Road
Silver City, NM
 
Uhaul Co Independent Dealers Silver City
(505) 538-2923
1609 North Gold Street
Silver City, NM
 
Griffins Fuel Center Plus Inc
(505) 538-2441
2334 Ranch Club Road
Silver City, NM
 
Big Bear Inc
(505) 388-1840
Po Box 2338
Silver City, NM
 
Grant County Swap Meet
(505) 534-2233
9 Mathers Road
Silver City, NM
 

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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