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Truck Leasing Pros and Cons Corvallis 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.

Corvallis Rental Inc
(541) 753-2214
405 Northeast Circle Boulevard
Corvallis, OR
 
Pak Mail
(541) 754-8411
2397 Northwest Kings Boulevard
Corvallis, OR
 
All My Sons Moving
(541) 754-9000
Corvallis, OR
 
Peak Sports
(541) 754-6444
207 Nw 2nd St, #C
Corvallis, OR
 
Mayflower Moving & Storage Co - Cummings Transfer Co
(541) 754-1212
Corvallis, OR
 
Self-Stor
(541) 753-2688
435 Northeast Circle Boulevard
Corvallis, OR
 
U-Haul Co
(541) 752-5215
5260 NW Highway 99
Corvallis, OR
 
Mountain View RV & Boat Storage
(541) 754-7811
5210 Northeast Elliott Circle
Corvallis, OR
 
Pad & Pack Moving
(541) 758-4083
720 Sw 11th St Apt 22
Corvallis, OR
 
Store-More
(541) 754-1885
34085 Riverside Drive
Corvallis, 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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