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Truck Leasing Pros and Cons Broken Arrow OK

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.

Accent Moving & Storage, Inc.
(918) 251-5594
400 North Poplar Avenue
Broken Arrow, OK

Data Provided by:
Allied Van Lines
(918) 258-4900
2900 North Hemlock
Broken Arrow, OK
 
Model T Garage
(918) 252-0039
6809 South 115th East Avenue
Broken Arrow, OK
 
Classic Storage Station LLC
(918) 355-6649
2300 North 9th Street
Broken Arrow, OK
 
Accent Moving & Storage, Inc.
(918) 251-5594
400 North Poplar Avenue
Broken Arrow, OK
 
BGI Business Park
(918) 251-0338
1929 West Concord Circle
Broken Arrow, OK
 
Ace Transfer & Storage CO
(918) 251-1111
2100 North Hemlock Avenue
Broken Arrow, OK
 
Public Storage - Storage Locations- Broken Arrow
(918) 251-0338
1917 West Concord Circle
Broken Arrow, OK
 
Keyport Self-Storage
(918) 251-0628
126 North Elm Place
Broken Arrow, OK
 
Accent Moving & Storage-Mayflower Agency
(918) 251-5594
400 South Poplar Avenue
Broken Arrow, OK
 
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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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