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Truck Leasing Pros and Cons Bountiful UT

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.

E-Z Moving
(801) 347-7786
Salt Lake City, UT

Data Provided by:
Fly by Night Enterprises
(801) 295-1914
97 East North Canyon Road
Bountiful, UT
 
Ashworth Construction Trucking
(801) 292-8824
4141 South 825 West
Bountiful, UT
 
Lock It Up Self Storage
(801) 397-5700
620 South 200 West
Bountiful, UT
 
Dewaal & Sons
(801) 295-3127
423 North 800 West
Woods Cross, UT
 
Storage Place
(801) 292-4696
460 East Center Street
Bountiful, UT
 
5th West Self Storage
(801) 292-6335
1409 South 500 West
Woods Cross, UT
 
South Davis Self Storage & Business Park
(801) 292-9855
1411 South 600 West
Woods Cross, UT
 
Utah Safe Outlet
(801) 294-7233
601 West 900 South
Woods Cross, UT
 
Dewaal & Sons Towing
(801) 292-8036
423 North 800 West
Woods Cross, UT
 
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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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