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Truck Leasing Pros and Cons Ashland OH

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.

Tanya & Co Inc
(419) 289-0007
2175 Claremont Avenue
Ashland, OH
 
Castle Storall
(419) 289-1111
588 USHighway 250 East
Ashland, OH
 
Packaging Corporation of America
(419) 289-8717
929 Faultless Drive
Ashland, OH
 
Central Ohio Moving Service Inc
(419) 368-6683
44 Maine Street
Ashland, OH
 
Folding Carton Service
(419) 281-4099
608 Westlake Drive
Ashland, OH
 
Mitchell & Sons Moving & Storage
(800) 472-6709
1217 Twp Rd 1153
Ashland, OH
 
Mohican Moving & Storage Inc
(419) 281-0105
1217 Township Road 1153
Ashland, OH
 
Ashland Quality Storage
(419) 289-3838
1513 Milton Twp Road 1153
Ashland, OH
 
Anytime Stor-N-Loc
(419) 289-2324
1945 Claremont Avenue
Ashland, OH
 
The Reed Warehouses Inc
(419) 282-9998
Ashland, OH
 

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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