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Truck Leasing Pros and Cons Fort Morgan CO

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.

Economy Mini Storage
(970) 867-0321
620 Commerce Avenue Suite C
Fort Morgan, CO
Rocky Mountain Transport
(970) 867-7330
20525 County Road Q
Fort Morgan, CO
Clesik Rentals
(970) 867-7243
20279 USHighway 34
Fort Morgan, CO
Uhaul Co.
(970) 867-4671
627 E Platte Ave
Fort Morgan, CO
Economy Self Storage
(970) 867-0321
620 Commerce Avenue Suite C
Fort Morgan, CO
Uhaul Co
(970) 867-7324
19527 Us Highway 34
Fort Morgan, CO
U-Haul CO - Fort Morgan- Independent Dealers- FT Morgan
(970) 542-0600
131 West Platte Avenue
Fort Morgan, CO
Valley Storage
(970) 867-0347
Po Box 548
Fort Morgan, CO
Conoco Outpost And Mini Storage
(970) 867-3929
1410 Barlow Road
Fort Morgan, CO
Business Mart
(970) 867-7313
310 Main Street
Fort Morgan, CO

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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