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Truck Leasing Pros and Cons Lebanon OR

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.

Badger Rentals
(541) 258-5446
305 Russell Drive
Lebanon, OR
 
Train Ronald J Trucking
(541) 258-8939
31019 Ty Valley Road
Lebanon, OR
 
Antrim's Nursery & Farms
(541) 258-2988
34949 Santiam Highway
Lebanon, OR
 
J & J Mini Storage
(541) 451-2233
507 Harrison Street
Lebanon, OR
 
Haley Construction CO
(541) 451-3797
30035 Ingram Road
Lebanon, OR
 
Pruitt Transfer Inc
(541) 451-1795
1060 Tangent Street
Lebanon, OR
 
Airway Mini Storage
(541) 258-7867
1570 West Airway Road
Lebanon, OR
 
Starlite Storage
(541) 451-1796
29875 Santiam Highway
Lebanon, OR
 
U-haul Co.
(541) 259-1228
33790 Santiam Hwy
Lebanon, OR
 
McKenzie Meadows
(541) 259-4666
2020 South 12th Street
Lebanon, OR
 

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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