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Truck Leasing Pros and Cons Spanish Fork UT

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.

Hales Storage
(801) 798-0201
123 East 1600 North
Spanish Fork, UT
 
All Safe Storage
(801) 798-2045
2019 North Main Street
Spanish Fork, UT
 
U-Haul Co
(801) 798-0082
75 E 1600 N
Spanish Fork, UT
 
Surelock Self Storage
(801) 798-2575
6111 South 3200 West
Spanish Fork, UT
 
Hansen Brent D Dentist
(801) 798-7464
290 West Center Street
Spanish Fork, UT
 
Longview Fibre CO
(801) 798-7331
2200 North Main Street
Spanish Fork, UT
 
Dave's Storage Center
(801) 798-0590
130 West 500 South
Spanish Fork, UT
 
Christensen Brothers
(801) 798-9158
433 South 1550 West
Spanish Fork, UT
 
U-haul Co.
(801) 798-0639
3601 E Powerhouse Rd
Spanish Fork, UT
 
Parker Tim
(801) 491-9151
2310 South State Street
Springville, UT
 

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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