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Truck Leasing Pros and Cons Fayetteville AR

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.

A Plus Mini Storage
(479) 575-0300
724 West Sycamore Street
Fayetteville, AR
 
College Street Storage
(479) 582-3303
2593 North College Avenue
Fayetteville, AR
 
Admiral Moving Services. Inc.
(479) 442-4631
664 West Ash St.
Fayetteville, AR
 
Keyport Selfstorage
(479) 442-0400
1660 North College Avenue
Fayetteville, AR
 
HWY 45 Mini Storage
(479) 251-1940
4378 East Mission Boulevard # 45
Fayetteville, AR
 
East Missions Self Storage
(479) 442-0573
6622 East Mission Boulevard
Fayetteville, AR
 
Admiral Moving Services
(479) 442-4631
664 West Ash Street
Fayetteville, AR
 
Real Assets Inc Real Estate
(479) 521-6000
3822 North Parkview Drive
Fayetteville, AR
 
Budget Truck Rental - Truck Rental Reservations
(479) 521-5944
110 East Memorial Drive
Fayetteville, AR
 
Fayetteville Selfservice Storage
(479) 443-2662
1790 North Birch Avenue
Fayetteville, AR
 

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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