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Truck Leasing Pros and Cons American 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.

American Self Storage LLC
(801) 756-5388
420 East 620 South
American Fork, UT
 
U-Haul Co
(801) 492-1019
99 S 700 E
American Fork, UT
 
American Fork Storage
(801) 756-7370
18 West 100 North
American Fork, UT
 
Jedco Storage Units
(801) 756-6058
192 North Grant Avenue
American Fork, UT
 
Move It Rental Center
(801) 763-7425
136 North West State Road
American Fork, UT
 
Penske Truck Leasing
(801) 763-1462
136 North West State Road
American Fork, UT
 
AA Alpine Self Storage
(801) 756-0885
462 East 100 North
American Fork, UT
 
Tracy Michael C
(801) 756-7370
19 West West Lane
American Fork, UT
 
Burningham Enterprises Inc
(801) 756-8138
95 North 200 East
American Fork, UT
 
Harbor Storage
(801) 756-2928
72 East Frontage Road
American Fork, 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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