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Truck Leasing Pros and Cons Kearney NE

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.

Northgate Auto Sales
(308) 237-2883
6205 2nd Avenue
Kearney, NE
 
Horizon Designs Inc
(308) 237-2213
2409 Avenue I
Kearney, NE
 
Lowe Investment
(928) 526-6551
2001 Central Avenue
Kearney, NE
 
Central Nebraska Moving
(308) 237-3382
2222 2nd Avenue
Kearney, NE
 
Morrissey Bernard
(308) 234-3468
817 East 27th Street
Kearney, NE
 
Budget Truck Rental
(308) 236-7171
1810 Highway 30 East
Kearney, NE
 
U-haul Co.
(308) 236-2034
1700 Highway 30 E
Kearney, NE
 
Steel Structures Engineering
(308) 338-9966
3720 Avenue A Suite B
Kearney, NE
 
Downing Company
(308) 236-6431
1700 Highway 30 East
Kearney, NE
 
Lock 'n Store
(308) 236-3418
1840 Avenue H
Kearney, NE
 

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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