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Truck Leasing Pros and Cons Billings MT

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.

N C Miniwarehouse
(406) 252-7088
2351 Ushighway 87 East
Billings, MT
 
Corcoran Raymond Trucking Inc - Office
(406) 252-7054
532 Klenck Lane
Billings, MT
 
U-Haul CO - Independent Dealers- Billings
(406) 256-0506
4840 Laurel Road
Billings, MT
 
Diversified Transfer & Storage - Office
(406) 896-3400
1640 Monad Road
Billings, MT
 
Corcoran Raymond Trucking Inc Shop
(406) 245-6065
221 Lomond Lane
Billings, MT
 
Valley Express Inc Valley Logistics
(406) 252-7800
1224 USHighway 87 East
Billings, MT
 
Winkler Trucking Inc
(406) 256-1939
3050 North Frontage Road
Billings, MT
 
U-Haul CO - Billings- Independent Dealers
(406) 245-6541
4740 Underpass Avenue
Billings, MT
 
Bison Properties
(406) 254-2373
813 3rd Avenue North
Billings, MT
 
Uhaul Co.
(406) 656-0944
8924 S Frontage Rd
Billings, MT
 

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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