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Truck Leasing Pros and Cons Enid 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.

U-haul Co.
(580) 234-5480
242 Fields St
Enid, OK
 
Sims Jenkins & Price Supply
(580) 237-3102
120 East Cherokee Avenue
Enid, OK
 
Cromwells Inc
(580) 234-6561
302 East Maine Avenue
Enid, OK
 
U-Haul Co
(580) 237-0146
5124 W Owen K Garriott Rd
Enid, OK
 
U Store
(580) 233-9779
3113 Santa Fe Trail
Enid, OK
 
Rock Island Mini Storages
(580) 234-0110
1001 South Hoover Street
Enid, OK
 
Mini Storage
(580) 234-4333
4700 North 4
Enid, OK
 
Circle V Specialized Inc
(580) 242-3704
300 West Cherokee Avenue
Enid, OK
 
U-Haul Co
(580) 233-9418
207 E Owen K Garriott Rd
Enid, OK
 
Dunbar Moving & Storage
(580) 234-2210
1315 North Van Buren Street
Enid, 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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