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Truck Leasing Pros and Cons Windham ME

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.

Apple Tree Self Storage
(207) 893-0007
18 Whites Bridge Road
Windham, ME
 
Around The Rotary Storage
(207) 892-1688
401 Roosevelt Trail
Windham, ME
 
Giguere Auction Co
(207) 892-3800
Po Box 1272
Windham, ME
 
Shed Happens
(207) 892-3636
1042 Chadborne Rd
Standish, ME
 
Trailer Diversified
(207) 856-2217
298 New Portland Road
Gorham, ME
 
Miracle Movers
(207) 831-3889
Windham, ME
 
U-haul Co.
(207) 892-1544
482 River Rd
Windham, ME
 
Jmc Self Storage
(207) 892-5705
964 Roosevelt Trail
Windham, ME
 
Raymond Storage
(207) 655-7318
1255 Roosevelt Trail
Raymond, ME
 
Copp And Sons
(207) 829-3570
66 Blackstrap Road
Cumberland Center, ME
 

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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