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Truck Leasing Pros and Cons Eagle ID

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.

Mobile Storage by Eagle BILT Systems
(208) 939-0221
827 East State Street
Eagle, ID
 
Pak Mail Eagle
(208) 939-0221
827 East State Street
Eagle, ID
 
Pak Mail - Eagle
(208) 939-8981
228 East Plaza Street Suite B
Eagle, ID
 
Storeit Rental Storages
(208) 853-4527
7800 West State Street
Boise, ID
 
Merchants Moving & Storage Inc
(208) 376-8990
11345 West Executive Drive
Boise, ID
 
Container & Packaging Supply Inc
(208) 939-0291
1345 East State Street
Eagle, ID
 
Republic Storage
(208) 939-5577
8785 West Horseshoe Bend Road
Eagle, ID
 
Star Storage
(208) 286-0655
549 South Star Road
Star, ID
 
Pakmailboise
(208) 939-9304
3413 N. Cole Rd.
Boise, ID
 
Huckstep House Movers
(208) 323-0300
200 East 46th Place
Boise, ID
 

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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