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Truck Leasing Pros and Cons Casper WY

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.

Willhaul
(307) 265-8180
2004 Eastbrook Avenue
Casper, WY
 
U-haul Co.
(307) 234-2467
255 W Yellowstone Hwy
Casper, WY
 
U-Haul CO - Independent Dealers- Casper
(307) 237-5252
1817 East Yellowstone Highway
Casper, WY
 
U-Haul Co
(307) 235-5533
1702 Bryan Emigrant Trl
Casper, WY
 
Kenco Trucking Inc
(307) 234-1024
2530 Scott Drive
Casper, WY
 
Knapp Supply & Equipment CO
(307) 234-7323
811 Winborne Street
Casper, WY
 
Around Town Rent-A-Car
(307) 265-5667
804 North Poplar Street
Casper, WY
 
Collins Street Storage & Coins
(307) 472-4518
537 West Collins Drive
Casper, WY
 
Jr Flack Warehouse
(307) 265-1985
450 South Walnut Street
Casper, WY
 
Locust Company
(307) 265-1985
450 South Walnut Street
Casper, WY
 

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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