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Truck Leasing Pros and Cons Forest Grove OR

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.
(503) 357-3745
3412 Pacific Ave
Forest Grove, OR
 
B Street Self Storage
(503) 359-9232
1610 B Street
Forest Grove, OR
 
Cornelius Mini Storage
(503) 547-0174
3437 Baseline
Cornelius, OR
 
Bags West
(503) 640-5306
5285 Northeast Elam Young Parkway Suite B100
Hillsboro, OR
 
U-Haul Co
(503) 640-6583
530 S 1st Ave
Hillsboro, OR
 
DNT Trucking Inc
(503) 359-4547
2328 Pacific Avenue
Forest Grove, OR
 
Payless for Storage
(503) 359-3903
952 North Adair Street
Cornelius, OR
 
Park 219
(503) 649-1929
2900 Southwest Cornelius Passage Road Suite 300
Hillsboro, OR
 
Secure Storage
(503) 693-6844
4800 Northeast Cornell Road
Hillsboro, OR
 
Advanced Technology Group Inc
(503) 693-9209
455 Southeast 2nd Avenue
Hillsboro, OR
 

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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