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Truck Leasing Pros and Cons Grants Pass 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.

C Olson Rentals
(541) 479-0221
Po Box 382
Grants Pass, OR
 
Town Center Mini Storage
(541) 479-9400
497 Southeast H Street
Grants Pass, OR
 
All Care Services
(541) 472-0586
760 Rogue River Highway
Grants Pass, OR
 
American Secure Storage
(541) 474-9898
3134 Foothill Boulevard
Grants Pass, OR
 
Franklin's Moving & Storage
(541) 476-7735
1900 NW Washington Blvd
Grants Pass, OR
 
First Class Moving Assistance
(541) 772-9607
Po Box 2545
Grants Pass, OR
 
Redding Reload and Dispatch
(541) 476-5005
1350 Rogue River Highway # A
Grants Pass, OR
 
Mini Storage-Warehouse
(541) 476-3554
357 Union Avenue
Grants Pass, OR
 
AAA Mini Storage & Mail Stop
(541) 479-7230
3593 Rogue River Highway
Grants Pass, OR
 
Sequoia Village LLC
(541) 476-8515
1673 Southeast N Street
Grants Pass, 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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