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Truck Leasing Pros and Cons Arkansas City 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.

Space Center Ministorage
(620) 442-1166
26836 61st Road
Arkansas City, KS
Amway Product Distributors
(620) 442-2849
800 Catalpa Avenue
Arkansas City, KS
Quality Mini Storage
(620) 442-5306
2550 Valley View Drive
Arkansas City, KS
Quality Water Services
(620) 442-5590
3122 North Summit Street
Arkansas City, KS
Budget Storage
(620) 441-0668
710 East Kansas Avenue
Arkansas City, KS
Suttles Transmissions
(620) 442-1300
830 North G Street
Arkansas City, KS
Packrat Storage
(620) 446-1008
6914 306th Road
Arkansas City, KS
Echo Water Systems
(620) 442-5590
3122 North Summit Street
Arkansas City, KS
Allens Furniture And Carpet
(620) 442-3720
221 South Summit Street
Arkansas City, KS
Greif Bros Corporation
(620) 442-9390
7604 Warehouse Avenue
Arkansas City, 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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