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Truck Leasing Pros and Cons Gillette WY

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.

Stronghold Storage
(307) 680-3497
Po Box 1211
Gillette, WY
 
Black Hawk Crane & Rigging Inc
(307) 682-0911
1844 Schoonover Street
Gillette, WY
 
Bekins Agent
(307) 686-1305
2501 Dogwood Avenue
Gillette, WY
 
Melgaard Construction
(307) 687-1600
722 Sinclair Street
Gillette, WY
 
Pak-Away Storage Inc
(307) 682-0533
3900 Collins Rd E
Gillette, WY
 
Pak-A-Way Storage
(307) 682-0533
3900 Collins Road East
Gillette, WY
 
Powder Basin Glass Inc
(307) 685-3674
401 East Lakeway Road
Gillette, WY
 
AA Movers
(307) 685-3674
401 East Lakeway Road
Gillette, WY
 
U-Haul
(307) 686-1032
4712 South Douglas Highway
Gillette, WY
 
Southern Drive Self Storage
(307) 685-2888
5266 Hitt Boulevard
Gillette, WY
 

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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