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Truck Leasing Pros and Cons Texarkana AR

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.

Abf Upack Moving
(870) 774-4179
24th Street & Highway 67 North
Texarkana, AR
 
Ace Moving & Storage Inc
(870) 773-4628
600 East Broad Street
Texarkana, AR
 
Uhaul Co.
(903) 794-0054
6800 N State Line Ave
Texarkana, AR
 
American Ministorage
(870) 772-5825
3116 East 9th Street
Texarkana, AR
 
Uhaul Co
(870) 773-0775
2324 N State Line Ave
Texarkana, AR
 
Affordable Lock Box Storage I And Ii
(870) 773-7606
2113 East Broad Street
Texarkana, AR
 
Econo-Movers
(870) 774-9224
Texarkana, AR
 
Lockaway Storage
(903) 223-9922
1407 South Kings Highway
Texarkana, AR
 
I30 Storage Center
(870) 772-4726
4805 Jefferson Avenue
Texarkana, AR
 
C And C Tye Mini Storage And Warehousing Inc
(870) 773-9239
3111 East 19th Street
Texarkana, AR
 

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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