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Truck Leasing Pros and Cons Sioux Falls SD

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.

Burns Moving And Storage
(605) 336-3134
4205 N 4Th Ave
Sioux Falls, SD

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Loewenberg Self Storage
(605) 335-3283
1000 East Benson Road
Sioux Falls, SD
Business Archives
(605) 336-9981
4205 North 4th Avenue
Sioux Falls, SD
Jim Hawk Truck Trailers Inc
(605) 338-6365
1401 East Benson Road Suite 1
Sioux Falls, SD
Tri-State Storage
(605) 336-8945
4409 North Seubert Avenue
Sioux Falls, SD
Citi-Cargo & Storage
(605) 331-2000
4001 North Jessica Avenue
Sioux Falls, SD
Kedney Moving & Storage CO
(605) 336-3528
4301 North 2nd Avenue
Sioux Falls, SD
Lift-Pro Equipment CO
(605) 339-6494
3621 North Potsdam Avenue
Sioux Falls, SD
GH Radiator Air Conditioning
(605) 334-9940
1304 East 52nd Street North
Sioux Falls, SD
Able Auto Glass
(605) 335-6406
1801 West Burnside Street
Sioux Falls, SD
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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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