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Truck Leasing Pros and Cons New Philadelphia OH

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.

Budget Truck Rental
(330) 343-6833
165 West High Avenue
New Philadelphia, OH
 
Jupiter Realty Inc
(330) 364-4211
942 Jaycee Street Northwest
New Philadelphia, OH
 
Out Back Storage
(330) 878-5842
6691 Baertown Road Northwest
Dover, OH
 
Beller-Von Kaenel Trucking Inc
(330) 878-5311
6531 McKracken Drive Northwest
Dover, OH
 
Baker Hi-Way Express Inc
(330) 343-5553
555 Commercial Parkway
Dover, OH
 
North American Van Lines Agent
(330) 339-1800
New Philadelphia, OH
 
U-Haul Co
(330) 339-2800
1138 Commercial Ave SE
New Philadelphia, OH
 
Ohio Carrier Corporation
(330) 878-5311
6531 McKracken Drive Northwest
Dover, OH
 
Feller Trucking
(330) 878-5842
6691 Baertown Road Northwest
Dover, OH
 
Clarion Warehouse Company
(330) 343-1754
465 West 3rd Street
Dover, OH
 

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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