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Truck Leasing Pros and Cons Gresham 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 Center Of Gresham
(503) 667-0142
704 NE Hogan Dr
Gresham, OR
 
MOOV Moving
(503) 492-1806
Gresham, OR
 
Public Storage
(503) 669-8206
2730 Northwest Division Street
Gresham, OR
 
Stow-A-Way Mini Storage
(503) 669-1401
2195 Northeast 244th
Gresham, OR
 
U-Haul CO - Moving Center- Gresham
(503) 667-6521
24635 SE Stark St
Gresham, OR
 
U-Haul Co
(503) 666-0559
1900 NE 181st Ave
Portland, OR
 
Money Saver Gresham South
(503) 661-3333
2118 Southeast Hogan Rd
Gresham, OR
 
Powell Storage
(503) 674-6819
4882 West Powell Blvd
Gresham, OR
 
Shurgard Storage Centers - Gresham
(503) 492-1592
2636 Northeast Hogan Drive
Gresham, OR
 
Shurgard Storage
(503) 492-1592
2636 Se Hogan Rd
Gresham, 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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