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Truck Leasing Pros and Cons Brookings SD

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.

Storage Solutions
(605) 696-0684
715 4th Street
Brookings, SD
 
Dakota Tools & Pawn
(605) 692-6551
919 Main Avenue South
Brookings, SD
 
Prest Rack Inc
(605) 697-2600
500 Insbrook Lane
Brookings, SD
 
South Main Mini Storage
(605) 692-4375
425 12th Street South
Brookings, SD
 
U-haul Co.
(605) 692-5027
312 3rd Ave
Brookings, SD
 
Distinct Builders Inc
(605) 697-6222
917 West Highway 14 Bypass
Brookings, SD
 
Telkamp Housemoving
(605) 693-3697
21680 471st Avenue
Brookings, SD
 
U-Haul CO
(605) 692-2911
302 4th Street
Brookings, SD
 
XTRA Space Storage
(605) 696-9872
Po Box 282
Brookings, SD
 
Village Square Apartment & Garden VLG Townhomes
(605) 692-6310
1821 8th Street
Brookings, SD
 

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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