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Truck Leasing Pros and Cons Bainbridge Island WA

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.

Eastside Action Moving Co Inc
(206) 706-9802
9792 Edmonds Way Suite 113
Edmonds, WA

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Shurgard Storage
(360) 479-0303
1950 Ne Riddell Rd
Bremerton, WA
 
Cooper Fuel and Auto Repair
(360) 377-4100
3236 Wheaton Way
Bremerton, WA
 
Best Choice Self Storage
(360) 479-5958
4819 Almira Drive Northeast
Bremerton, WA
 
Allied Van Lines Agent - Spaeth Transfer, Inc.
(360) 373-6101
1231 Hollis St
Bremerton, WA
 
Rolling Bay Commercial Properties
(206) 780-1603
Po Box 4722
Rollingbay, WA
 
Creative B & B
(360) 377-1372
5050 State Highway 303 Northeast Suite 103
Bremerton, WA
 
United Moving & Storage
(360) 479-4800
1229 Hollis Street
Bremerton, WA
 
Anchor Moving & Storage Inc
(360) 479-1800
1231 Hollis Street
Bremerton, WA
 
U-Haul
(360) 692-6844
9682 State Highway 303 Northeast
Bremerton, WA
 
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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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