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Truck Leasing Pros and Cons Independence MO

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.

Kc Movers
(816) 246-6320
409 S.E. Thompson Dr.
Lees Summit, MO

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Lake City U Store
(816) 650-6128
910 North M 7 Highway
Buckner, MO
 
A C C Ustorage
(816) 836-1500
16500 East Truman Road
Independence, MO
 
Cdc Rv Storage
(816) 836-3287
16400 East Truman Road
Independence, MO
 
Parker Todd
(816) 461-4154
300 North Cogan Lane
Independence, MO
 
Cedar Built USA - Sales
(816) 254-2465
15615 East USHighway 24
Independence, MO
 
Adams J R And Son Warehouse Div O And Sns Grcfl Mvng And
(816) 252-0625
301 North Kiger Road
Independence, MO
 
Cedar Built Usa
(816) 254-2465
15615 East Ushighway 24
Independence, MO
 
Commercial Distribution Center - Office & Warehouse
(816) 836-1500
16500 East Truman Road
Independence, MO
 
Penske Truck Rental-N Independence
(816) 833-0120
117 East College Street
Independence, MO
 
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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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