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Truck Leasing Pros and Cons Moscow 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.

City North American
(208) 746-5962
Moscow, ID
Stuffit Mini Storage
(208) 882-7628
2003 South Main Street
Moscow, ID
Moscow Mini Storage
(208) 882-6564
1700 Mill Road
Moscow, ID
Uhaul Co.
(208) 892-8477
605 W 3rd St
Moscow, ID
Mail Boxes Etc
(208) 882-5000
676 West Pullman Road
Moscow, ID
ME & My Truck
(208) 882-5251
Po Box 9335
Moscow, ID
Ryder Truck Rental-One Way Inc
(208) 743-8550
102 Thain Road
Moscow, ID
Budget Truck Rental
(208) 882-9104
1420 South Main Street
Moscow, ID
AA Farley Mini Storage
(208) 882-2548
2220 Nursery Street
Moscow, ID
J Ds Mini Storage
(208) 882-4612
1923 South Main Street
Moscow, 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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