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Truck Leasing Pros and Cons Cody 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.

Aldrich's Mini Warehouse
(307) 587-2263
308 19th Street
Cody, WY
26th Street Storage
(307) 587-7811
2102 26th Street
Cody, WY
North American Van Lines Agent
(307) 587-3500
2214 Big Horn Avenue
Cody, WY
J-J Self Storage
(307) 587-2410
1919 Cougar Avenue
Cody, WY
D & B Storage
(307) 587-5953
2720 D Avenue
Cody, WY
Radioshack Dealer
(307) 587-5257
1713 17th Street
Cody, WY
U-Haul CO - Independent Dealers- Cody
(307) 587-4342
2933 Big Horn Avenue
Cody, WY
Fair Acres Mini Storage
(307) 587-3095
2805 East Avenue
Cody, WY
VOLD Trucking Inc
(307) 527-6643
3220 Reesy Road
Cody, WY
Reed Hycalog
(307) 527-7813
26 Pearson Avenue
Cody, 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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