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Truck Leasing Pros and Cons Minnetonka MN

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.

Good Stuff Moving
(651) 488-1902
635 Larpenteur Avenue
Roseville, MN

Data Provided by:
Paragon Moving And Storage
(952) 936-9122
401 11th Avenue South
Hopkins, MN
Bauer's Express Lube
(952) 936-9142
13118 Excelsior Boulevard
Hopkins, MN
Hopkins Shurgard HP
(952) 931-0942
1144 7 Street North
Hopkins, MN
Uhaul Co.
(952) 930-3898
13118 Excelsior Blvd
Minnetonka, MN
Mail Boxes Etc - Minnetonka
(952) 933-7574
Highway 7 & Cty Road 73
Minnetonka, MN
Paragon Moving And Storage Inc
(952) 936-9122
401 11th Avenue North
Hopkins, MN
Bauers Custom Hitches
(952) 979-9129
13118 Excelsior Boulevard
Hopkins, MN
Minikahda Records Storage
(952) 936-0936
150 Tyler Avenue North
Hopkins, MN
Bennett Material Handling
(952) 933-5544
1009 Hill Street
Hopkins, MN
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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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