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Truck Leasing Pros and Cons Kapaa 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.

Uhaul Co Independent Dealers Kilauea
(808) 245-3777
3-3134 Kuhio Highway # A1
Lihue, HI
 
North American Van Lines - Agent
(808) 245-1985
Puhi Industrial Park
Lihue, HI
 
Aloha International - International Moving Services, Inc.
(808) 245-6683
Lihue, HI
 
Honolulu Freight Service
(808) 245-1985
Industrial Park
Lihue, HI
 
Koloa Self Storage
(808) 742-6060
3457 Waikomo Road
Koloa, HI
 
Fast Freight Services LLC
(808) 245-1871
3022 Peleke Bay 4
Lihue, HI
 
U-Haul CO - Independent Dealers- Kilauea
(808) 828-2100
2488 Kolo Road
Lihue, HI
 
Lihue Mini Storage
(808) 245-3777
3-3134 Kuhio Highway # A1
Lihue, HI
 
Kauai Commercial Company - Freight Forwarding & Public Warehousing- Bulk Hauling & Household G
(808) 245-1985
Industrial Park
Lihue, HI
 
Lawai Cannery Row Self Storage
(808) 332-5929
3470 Lauoho Road
Lawai, 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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