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Truck Leasing Pros and Cons Blackfoot ID

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.

Intermountain Self Storage
(208) 785-5989
217 Lansing Street
Blackfoot, ID
Lost River Express
(208) 785-4262
441 West Highway 26
Blackfoot, ID
Simons Auctions Inc
(208) 785-0868
437 West Highway 26
Blackfoot, ID
D And V Storage Office
(208) 785-3181
1141 West Center Street
Blackfoot, ID
AB Storage of Blackfoot
(208) 785-1611
1430 Highland Drive
Blackfoot, ID
Parcel Express
(208) 785-2626
Riverside Plaza Suite STE
Blackfoot, ID
Uhaul Co
(208) 782-2452
430 W Highway 26
Blackfoot, ID
Uhaul Co.
(208) 785-2771
381 Nw Main St
Blackfoot, ID
R And P Enterprises
(208) 785-4776
553 West 100 North
Blackfoot, ID
Diamond Storage
(208) 785-0880
454 West Highway 26
Blackfoot, ID

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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