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Truck Leasing Pros and Cons Pierre SD

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.

GLOE Construction - Office
(605) 223-3194
Po Box 874
Pierre, SD
 
Capital Welding
(605) 224-4682
29490 Sd Highway 34
Pierre, SD
 
EFL Storage
(605) 224-1787
1814 Bristol Place
Pierre, SD
 
Mid-Dakota Mini Storage
(605) 224-7963
721 East Wells Avenue
Pierre, SD
 
Snappy Delivery
(605) 224-4612
1823 East Dakota Avenue
Pierre, SD
 
KROG Trucking
(605) 224-1116
1020 North Central Avenue
Pierre, SD
 
Mini Storage of Pierre
(605) 224-7377
2841 Oxford Court
Pierre, SD
 
Safeway Storage
(605) 224-2900
East Wells Avenue & Garfi
Pierre, SD
 
Great Lakes Moving & Storage
(605) 224-1079
2121 East Dakota Avenue
Pierre, SD
 
OAHE Storage
(605) 223-2736
Po Box 22
Pierre, SD
 

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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