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Truck Leasing Pros and Cons Beckley WV

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.

WV Auto Sales
(304) 254-8377
800 North Eisenhower Drive
Beckley, WV
 
Red Wagon Movers Inc
(304) 252-7500
2733 Harper Rd
Beckley, WV
 
Brownie's Service Inc
(304) 253-7397
810 North Eisenhower Drive
Beckley, WV
 
U-Haul CO - Independent Dealers- Beckley
(304) 253-9332
107 North Eisenhower Drive
Beckley, WV
 
J & K Rentals
(304) 252-1509
294 Ragland Road # D
Beckley, WV
 
Gray Mini Storage
(304) 252-6363
1860 Robert Centre Byrd Drive
Beckley, WV
 
Cox Mini Storage
(304) 256-6400
450 Ragland Road
Beckley, WV
 
Acres Mini Storage
(304) 255-0272
339 Rural Acres Drive
Beckley, WV
 
Rent-a-Space
(304) 252-5333
N. Kanawha & Prince St.
Beckley, WV
 
Beckley Mini Storage
(304) 252-0431
400 Harper Park Drive
Beckley, WV
 

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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