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Truck Leasing Pros and Cons Bartlett IL

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.

Schnidt Cartage Inc
(630) 736-6900
1625 Hunter Road
Hanover Park, IL
 
Public Storage
(630) 351-8383
1000 East Lake Street
Hanover Park, IL
 
U-Haul CO - Bartlett- Hanover Park- Moving Centers
(630) 736-0557
7450 Jensen Boulevard
Hanover Park, IL
 
Ustoreit
(630) 510-0899
26w630 Army Trail Road
Hanover Park, IL
 
Uhaul Co
(630) 682-8146
4 N 275 84th Ct
Bartlett, IL
 
Assembly Required Inc
(630) 837-0751
248 Shawnee Court
Bartlett, IL
 
Uhaul Co Bartlett Hanover Park Moving Centers
(630) 736-6900
1625 Hunter Road
Hanover Park, IL
 
Budget
(630) 483-2080
1300 Irving Park Road
Hanover Park, IL
 
Metro Self Storage
(630) 837-0087
Devon Avenue
Bartlett, IL
 
Budget Truck Rental Truck Rental Reservations
(630) 483-2080
1300 Irving Park Road
Hanover Park, IL
 

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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