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Truck Leasing Pros and Cons Mason City IA

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.

Boxes Unlimited
(641) 421-9563
509 North Georgia Avenue
Mason City, IA
 
Atlas Miniwarehouses
(641) 423-6053
704 6th Street Southwest
Mason City, IA
 
Security Self Storage
(641) 423-5650
15187 Partridge Avenue
Mason City, IA
 
Plagge Truck Line PTL Inc
(641) 423-3915
251 18th Street Southeast
Mason City, IA
 
Mini Store
(641) 424-8006
111 6th Street Southeast
Mason City, IA
 
Monroe Storage
(641) 423-2124
1627 South Monroe Avenue
Mason City, IA
 
Carroll Sales CO
(641) 423-3652
600 4th Street Southwest
Mason City, IA
 
Anthony Trucking
(641) 424-8722
Mason City, IA
 
Appliance & Furniture Rentall
(641) 424-8006
111 6th Street Southeast
Mason City, IA
 
Mason City Warehouse LC
(641) 423-3652
600 4th Street Southwest
Mason City, IA
 

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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