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Truck Leasing Pros and Cons Cheyenne 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.

Cheyenne Flying Club
(307) 634-0221
3904 Central Avenue Suite A
Cheyenne, WY
 
Atlas Van Lines Agent
(307) 635-5244
2020 East 11th Street
Cheyenne, WY
 
Dandelion Moving & Storage Inc
(307) 632-5412
Cheyenne, WY
 
Big W Supplies
(307) 634-5502
650 West 18th Street
Cheyenne, WY
 
Budget Truck Rental
(307) 637-7066
717 Storey Boulevard
Cheyenne, WY
 
Sunnyside Villa Mobile Home Park
(307) 632-3562
3901 Ridge Road
Cheyenne, WY
 
Boxes at Security Storage
(307) 634-5008
2130 Missile Drive
Cheyenne, WY
 
Aabalon Moving Services
(307) 635-2401
314 Evelyn
Cheyenne, WY
 
U-Haul CO - Independent Dealers- Cheyenne
(307) 634-6207
2130 Missile Drive
Cheyenne, WY
 
Alco Mobile Storage
(307) 637-3343
616 Crook Avenue Ofc
Cheyenne, 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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