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Truck Leasing Pros and Cons Clearfield UT

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
(801) 525-8353
520 W 1700 S
Clearfield, UT
Redman Van & Storage
(801) 776-2645
Freeport Centre
Clearfield, UT
Freeport West - Self Storage Office
(801) 773-7867
Freeport West
Clearfield, UT
Carrier Lumping Service
(801) 825-8066
755 East 1700 South
Clearfield, UT
Pepper Ridge Garage & Storage
(801) 773-3022
1080 South 1500 East Ofc 102
Clearfield, UT
Towne Storage
(801) 773-0800
280 South State Street
Clearfield, UT
Heartland Industries Inc
(801) 825-8811
555 North Main Street
Clearfield, UT
(801) 773-4210
1299 South State Street
Clearfield, UT
Redman Van & Storage Co
(801) 776-2645
Clearfield Freeport
Clearfield, UT
Superior Air Handling Corporation - Trucking & Transportation
(801) 776-2035
Freeport Centre
Clearfield, UT

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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