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Truck Leasing Pros and Cons Park City UT

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.

E-Z Moving
(801) 347-7786
Salt Lake City, UT

Data Provided by:
The Storage Depot
(435) 649-2741
1040 Iron Horse Drive
Park City, UT
 
Ups Store
(435) 647-9303
6300 Sagewood Drive
Park City, UT
 
Summit Self Storage
(435) 645-9275
2640 Rasmussen Road
Park City, UT
 
Packaging Store
(435) 649-6402
1890 Bonanza Drive
Park City, UT
 
The Space Place
(435) 645-7795
4520 North Old Highway 40
Park City, UT
 
Wasatch Transfer
(435) 649-2088
Park City, UT
 
The Ups Store
(435) 647-9303
Smiths Food Centre
Park City, UT
 
Mail Boxes Etc
(435) 647-9303
6300 Sagewood Drive Suite H
Park City, UT
 
Lewis Wolcott & Dornbush Real Estate - Main Office
(435) 649-1884
1283 Deer Valley Drive
Park City, UT
 
Data Provided by:

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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