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Truck Leasing Pros and Cons Hilo HI

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.

Aamerican Self Storage
(808) 966-4040
16-151 Melekahiwa Street
Keaau, HI
 
Big Isle Moving
(808) 935-9353
69 Railroad Avenue Suite B12
Hilo, HI
 
Power Self Storage - Power Storage Hilo
(808) 933-2977
425 Kalanianaole Avenue
Hilo, HI
 
Viking Freight Inc
(808) 935-0018
144 Makaala Street
Hilo, HI
 
Uhaul Co
(808) 935-5711
425 Kalanianaole Ave
Hilo, HI
 
Stuff It Mini Storage of Hilo Inc
(808) 935-2670
69 Railroad Avenue
Hilo, HI
 
Power Self Storage Power Storage Hilo
(808) 969-7055
Hilo Hrbr Pier 1
Hilo, HI
 
Town And Country Moving And Storage
(808) 969-1911
111 Silva Street
Hilo, HI
 
Kona Trans
(808) 935-4981
160 Makaala Street
Hilo, HI
 
Silva's Moving & Delivery
(808) 959-2300
Hilo, HI
 

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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