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Truck Leasing Pros and Cons Torrington CT

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.

All-Star Storage of Torrington
(860) 489-3620
260 Technology Park Drive
Torrington, CT
 
Budget
(860) 482-1923
1294 East Main Street
Torrington, CT
 
Tender Loving Care
(860) 482-2734
56 East Main Street
Torrington, CT
 
Andrighetti & Sons Inc
(860) 482-3519
412 Main Street
Torrington, CT
 
Daley Moving & Storage Inc
(203) 797-0567
561 South Main Street
Torrington, CT
 
Tom & Debbie's Used Furniture
(860) 489-1947
190 Litchfield Street
Torrington, CT
 
Daley Moving And Storage Inc
(860) 482-8508
58 Migeon Avenue
Torrington, CT
 
Bunch Relocation
(860) 489-6683
634 Migeon Avenue
Torrington, CT
 
Mountain Top Trucking
(860) 496-7257
50 Lincoln Avenue
Torrington, CT
 
Clearview Storage Park
(860) 485-0328
133 Clearview Avenue
Harwinton, CT
 

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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