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Truck Leasing Pros and Cons South Elgin IL

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.

D And B Graphic Services
(847) 841-1652
376 Sundown Road
South Elgin, IL
 
AAA Storage II Inc
(847) 742-9094
South Elgin, IL
 
U-Haul CO
(847) 622-8427
1293 North La Fox Street
South Elgin, IL
 
Master Movers
(847) 468-0600
Elgin, IL
 
Deckert Acoustical Floors
(847) 468-6180
1110 Houston Avenue
Elgin, IL
 
Berna Moving And Storage
(847) 741-0264
503 Sundown Road
South Elgin, IL
 
Rbs Packaging
(847) 931-0766
630 Schneider Drive
South Elgin, IL
 
Fox Valley Printing & Carton CO
(847) 695-1800
1056 North La Fox Street
South Elgin, IL
 
Accurate Piano
(847) 741-9882
992 Chippewa Drive
Elgin, IL
 
Store More Storage Llc
(847) 697-1800
796 Bluff City Boulevard
Elgin, IL
 

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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