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Truck Leasing Pros and Cons Cottage Grove MN

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.

Good Stuff Moving
(651) 488-1902
635 Larpenteur Avenue
Roseville, MN

Data Provided by:
Claude Schmuki - Edina Realty Inc.
(651) 458-6748
8475 E Point Douglas Road
Cottage Grove, MN
Hanefeld Brothers Inc
(651) 451-8260
8411 Jergen Avenue South
Cottage Grove, MN
Coldwell Banker Burnetthe Rollands
(651) 459-9955
7350 80th Street South
Cottage Grove, MN
Minnesota Ministorage
(651) 578-8788
494 Lake Road
Saint Paul, MN
(651) 458-1612
9165 West Point Douglas Road South
Cottage Grove, MN
Uhaul Co Independent Dealers Cottage Grove
(651) 451-8260
8411 Jergen Avenue South
Cottage Grove, MN
Barrel Reconditioning Industries Inc
(651) 458-3466
10500 Ideal Avenue South
Cottage Grove, MN
(651) 739-2026
7060 Valley Creek Plaza
Saint Paul, MN
Public Storage
(651) 731-0807
9640 Hudson Road
Saint Paul, MN
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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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