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Truck Leasing Pros and Cons Indianola IA

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.

Smoldt Moving & Storage Inc
(515) 270-8474
4069 121 St
Urbandale, IA

Data Provided by:
Uhaul Co
(515) 961-6008
1900 West 2nd Avenue
Indianola, IA
 
U Haul CO - Adel- Independent Dealers- Indianola
(515) 961-6008
1900 West 2nd Avenue
Indianola, IA
 
Enclosed Rv And Boat Storage
(515) 462-3773
I35 Highway 92
Bevington, IA
 
Bussanmas Towing And Recovery
(515) 462-4558
103 West Highway 92
Bevington, IA
 
Vanderlinden Construction
(515) 961-5710
1400 North 14th Street
Indianola, IA
 
Indianola Personal Storage
(515) 961-8336
500 East Girard Avenue
Indianola, IA
 
Linden Storage Center
(515) 961-5710
1400 North 14th Street
Indianola, IA
 
Bevington Mini Storage
(515) 462-2450
101 Williamson Street
Bevington, IA
 
Lacona Hardware
(641) 534-4551
121 East Main Street
Lacona, IA
 
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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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