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Truck Leasing Pros and Cons Coos Bay OR

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.

The Fortress Self Storage
(541) 888-5521
1503 Ocean Blvd Nw
Coos Bay, OR
 
Monarch Mini Storage LLC
(541) 888-5000
1785 Ocean Boulevard Northwest
Coos Bay, OR
 
Hutch & Sons Quality Moving
(541) 266-9543
94489 Boone Creek Lane
Coos Bay, OR
 
Ireland Trucking
(541) 267-4361
62671 Shinglehouse Road
Coos Bay, OR
 
Budget Truck Rental
(541) 267-5653
1889 North Bayshore Drive
Coos Bay, OR
 
Knutson Towboat Company - Log Yard
(541) 269-1634
400 North Front Street
Coos Bay, OR
 
Abba Mini Storage LLC
(541) 888-0482
1740 Ocean Blvd Nw
Coos Bay, OR
 
A-B Mini Storage
(541) 888-3381
64686 Washington Road
Coos Bay, OR
 
Sweet Trucking Inc
(541) 267-0404
820 North Front Street
Coos Bay, OR
 
Ferguson Transfer
(541) 888-5578
1690 Ocean Boulevard Southeast
Coos Bay, OR
 

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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