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Truck Leasing Pros and Cons Lewiston ID

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.

Fast Way Freight System
(208) 743-5504
812 29th Street North
Lewiston, ID
 
Uhaul Co.
(208) 799-9961
3139 5th St
Lewiston, ID
 
USF Reddaway
(208) 746-8509
1903 5th Avenue North
Lewiston, ID
 
Ajax Rental And Storage
(208) 798-3159
504 24th Street North
Lewiston, ID
 
Downtown Self Storage
(208) 746-4406
1724 Idaho Street
Lewiston, ID
 
Sixteenth Avenue Mini Storage
(208) 746-8380
2820 16th Avenue
Lewiston, ID
 
Excel Transport Operations
(208) 746-4111
1914 5th Avenue North
Lewiston, ID
 
Uhaul Co
(208) 746-5991
2231 2nd Ave N
Lewiston, ID
 
Richardson Trucking Inc
(208) 743-3528
420 28th Street North
Lewiston, ID
 
Eagle Transfer Trinaco Inc
(208) 746-7961
701 29th Street North
Lewiston, ID
 

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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