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Truck Leasing Pros and Cons Bassett VA

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.

Jimmies Discounts
(276) 629-8116
6311 Virginia Avenue
Bassett, VA
 
Branch Moving
(276) 673-2323
3075 Dillons Fork Road
Fieldale, VA
 
Storage Inn
(276) 632-2331
3395 Greensboro Road
Martinsville, VA
 
Fibre Container Inc
(276) 632-7171
607 Stultz Road
Martinsville, VA
 
U-Haul CO - Independent Dealers- Martinsville
(276) 632-8012
2933 Greensboro Road
Martinsville, VA
 
Reynolds Container Corporation
(276) 647-8451
2233 Virginia Avenue
Collinsville, VA
 
Garrett Wells & Associates
(276) 638-3918
1710 Old Chatham Road
Martinsville, VA
 
U-Haul Co
(276) 650-9920
3525 Al Philpott Hwy
Martinsville, VA
 
Guy M Turner Inc
(276) 638-4660
V Centre Drive
Martinsville, VA
 
Smurfit-Stone Container Corporation
(276) 632-2176
Industrial Park
Martinsville, VA
 

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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