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Truck Leasing Pros and Cons Topeka KS

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.

Bailey Moving & Storage Co Inc
(785) 232-0521
608 North Quincy Street
Topeka, KS
 
Cherry Creek Const
(785) 633-6549
4043 North West Fielding Road
Topeka, KS
 
Budget Truck Rental
(785) 271-2424
5219 Southwest 17th Street
Topeka, KS
 
Universal Auto Loan
(785) 267-2940
3649 Southwest Burlingame Road
Topeka, KS
 
A And A Mini Storage West
(785) 273-5533
235 Southwest Gage Boulevard
Topeka, KS
 
Miniwarehouse Limited I
(785) 273-3003
5841 Southwest 21st Street
Topeka, KS
 
Beisecker Min And Max Storage
(785) 233-7408
127 Northwest Van Buren Street
Topeka, KS
 
Bailey Moving And Storage
(785) 232-0521
608 North Quincy Street
Topeka, KS
 
King Moving & Storage
(785) 271-5990
Topeka, KS
 
Barber Marshall Real Estate
(785) 233-4222
600 Southwest Van Buren Street
Topeka, KS
 

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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