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Truck Leasing Pros and Cons El Reno OK

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.

Preferred Properties R E
(405) 262-4653
1617 East USHighway 66
El Reno, OK
 
U-Haul
(405) 422-4375
935 South Country Club Road
El Reno, OK
 
Plaza 66 Mini-Storage
(405) 262-6022
1617 East USHighway 66
El Reno, OK
 
Davis Tim
(405) 262-8849
3009 Stewart Avenue
El Reno, OK
 
A Secure Mini Storage
(405) 422-2944
2035 North Old Highway 81
El Reno, OK
 
Tiny Giant Discount Mini Storage
(405) 262-2522
1646 East USHighway 66
El Reno, OK
 
Westside Storage
(405) 422-4294
528 West Watts Street
El Reno, OK
 
Mini-Max Storage
(405) 422-2948
110 North Bickford Avenue
El Reno, OK
 
U-Haul CO of Oklahoma - Independent Dealers- Oklahoma City- El Reno
(405) 262-7963
1617 East USHighway 66
El Reno, OK
 
El Reno Supply Inc
(405) 262-1213
3800 S. Hwy 81 Service Rd
El Reno, OK
 

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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