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Truck Leasing Pros and Cons Columbus NE

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.

Greiner's Self Storage
(402) 564-1099
2423 11th Street
Columbus, NE
 
Budget Truck Rental
(402) 564-1588
2817 13th Street
Columbus, NE
 
Cottonwood Antique Mall & Flea Market
(402) 564-1099
2423 11th St
Columbus, NE
 
Central Insulation And Roofing Inc
(402) 564-6913
5307 27th Street
Columbus, NE
 
Schreiber BROS
(402) 563-3518
2251 3rd Avenue
Columbus, NE
 
Central NE Storage
(402) 562-7039
902 East 17th Street
Columbus, NE
 
Performance Paint And Body Shop
(402) 563-1937
2119 13th Street
Columbus, NE
 
A 3rd Avenue Self Storage
(402) 564-3921
2070 3rd Avenue
Columbus, NE
 
Columbus Moving And Storage Inc
(402) 564-1013
2860 54th Avenue
Columbus, NE
 
Big Red Storage
(402) 564-1385
1127 East 19th Street
Columbus, NE
 

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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