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Truck Leasing Pros and Cons Bolingbrook 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.

Uhaul Co.
(630) 972-9256
11321 Joliet Rd
Lemont, IL
 
Shurgard Self Storage
(630) 759-0900
200 Brook Court
Bolingbrook, IL
 
Ups Store
(630) 783-8066
747 East Boughton Road
Bolingbrook, IL
 
Uhaul Co
(630) 226-9511
1318 Marquette Dr
Romeoville, IL
 
Budget Truck Rental Truck Rental Reservations
(630) 783-0347
537 East South Frontage Road
Bolingbrook, IL
 
Uhaul Co
(630) 739-0030
161 S Joliet Rd
Bolingbrook, IL
 
Budget Truck Rental - Truck Rental Reservations
(630) 783-8249
440 North Bolingbrook Drive
Bolingbrook, IL
 
All Seasons Self Storage Center
(630) 679-1234
296 North Weber Road
Bolingbrook, IL
 
Budget Truck Rental
(630) 625-7868
322 Main Street
Lemont, IL
 
Chapco Carton
(630) 771-0900
515 West Crossroads Parkway
Bolingbrook, 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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