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Truck Leasing Pros and Cons Mandan ND

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.

Windsor Storage
(701) 663-2600
4439 Memorial Highway
Mandan, ND
 
Schmidt Trucking Inc
(701) 663-2391
1301 8th Avenue Southeast
Mandan, ND
 
Loehrke Jim Jr Trucking
(701) 667-1307
2518 34th Street Northwest
Mandan, ND
 
Northland Storage
(701) 663-1560
2231 3rd Street Southeast
Mandan, ND
 
Old Red Trail Storage
(701) 663-8675
3025 Old Red Trail
Mandan, ND
 
Northland Auto Auction
(701) 663-1561
2100 3rd Street Southeast
Mandan, ND
 
C J Rigging
(701) 223-3586
2939 Twin City Drive
Mandan, ND
 
Dakota Mini Storage
(701) 250-8569
1601 Division Street Northeast
Mandan, ND
 
U-Haul Co
(701) 663-7192
2371 Highway 10
Mandan, ND
 
Toy Storage I & II
(701) 663-3682
312 Bis Man Avenue
Mandan, ND
 

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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