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Truck Leasing Pros and Cons Great Falls MT

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.

Gore Hill Self Storage
(406) 727-6333
4500 Tri Hill Frontage Road
Great Falls, MT
 
Meadowlark Estates
(406) 761-4081
800 Park Garden Road
Great Falls, MT
 
Suhr Transport
(406) 727-3200
1 Huffman Ct
Great Falls, MT
 
Rogers Jewelers
(406) 727-8591
1205 3rd Street Northwest
Great Falls, MT
 
American Mini Storages
(406) 761-4211
760 6th Street Southwest
Great Falls, MT
 
Secure Mini Storage
(406) 771-8305
3001 Vaughn Road
Great Falls, MT
 
Great West Storage
(406) 761-7009
1000 American Avenue
Great Falls, MT
 
Rogers Jewelers Yogo Sapphires
(406) 727-8591
1205 3 Northwest
Great Falls, MT
 
Dahlquist Realtors
(406) 761-4081
500 Country Club Boulevard
Great Falls, MT
 
Shumaker Trucking And Excavating
(406) 727-3537
3501 Ushighway 87
Great Falls, MT
 

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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