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Truck Leasing Pros and Cons Meridian 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.

Stormor Sheds
(208) 887-6500
1301 South Teare Avenue
Meridian, ID
 
Storage Cubbys
(208) 895-8889
Meridian, ID
 
Idaho Wood Sheds
(208) 888-1090
124 Northwest 10th Street Suite 107
Meridian, ID
 
Uhaul
(208) 895-0669
245 West Overland Road
Meridian, ID
 
Republic Storage - Meridian
(208) 888-4500
627 South Meridian Road
Meridian, ID
 
Stor-It Rental Storages - Locust Grove
(208) 887-0047
1776 North Avest Lane
Meridian, ID
 
Uhaul Co
(208) 887-3665
601 S Meridian Rd
Meridian, ID
 
Ten Mile Storage
(208) 888-4065
3735 North Ten Mile Road
Meridian, ID
 
Valley Storage Company
(208) 888-0016
4390 South Meridian Road
Meridian, ID
 
Victory Greens
(208) 888-5551
100 East Victory Road
Meridian, 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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