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Truck Leasing Pros and Cons Claremore 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.

U-haul Co.
(918) 343-9661
24985 S Highway 66
Claremore, OK
 
D & A Storage
(918) 342-2261
9710 East Highway 88
Claremore, OK
 
Fullerton Mini Storage
(918) 341-8264
Highway 20 East
Claremore, OK
 
U-Haul Co
(918) 341-8220
1001 Will Rogers Blvd
Claremore, OK
 
U-haul Co.
(918) 343-5991
18520 S 4160 Rd
Claremore, OK
 
Claremore Rental & Sales Inc
(918) 341-2690
1501 North Lynn Riggs Boulevard
Claremore, OK
 
East Side Mini Storage
(918) 343-1000
14543 East Highway 20
Claremore, OK
 
Maxi-Mini Storage
(918) 341-8332
711 South Moretz Avenue
Claremore, OK
 
Accent Awning & Canvas CO
(918) 341-5354
310 South Lynn Riggs Boulevard
Claremore, OK
 
Miller Ronnie OFC
(918) 341-8595
6417 Northeast Edgewater Drive
Claremore, OK
 

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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