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Truck Leasing Pros and Cons Oklahoma City OK

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.

Guardian Warehouse & Terminal
(405) 235-0431
1701 Northwest 5th Street
Oklahoma City, OK
 
Chariana Sal
(405) 942-8381
1617 Northwest 23rd Street
Oklahoma City, OK
 
Arrow Storage
(405) 793-9009
149 South Western Avenue
Oklahoma City, OK
 
Storeroom Self-Storage
(405) 341-6664
600 Northwest 178 Street
Oklahoma City, OK
 
Abes Budget Movers
(405) 272-3000
Oklahoma City, OK
 
Cat Logistics
(405) 231-1900
1349 Northwest 5th Street
Oklahoma City, OK
 
A & M Moving
(405) 606-6066
Oklahoma City, OK
 
Village Self Storage
(405) 735-3889
Southwest 134th & Western
Oklahoma City, OK
 
U-haul Center Of Southside
(405) 681-5327
3101 SW 29th St
Oklahoma City, OK
 
Mary's Movers
(405) 232-1960
30 Yrs Experience
Oklahoma City, OK
 

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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