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Truck Leasing Pros and Cons Powhatan VA

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.

County-Line Mini Warehouses
(804) 379-3969
1377 Anderson Highway
Powhatan, VA
 
U-Haul Co
(804) 457-2933
5260 River Rd W
Goochland, VA
 
U-haul Co.
(804) 561-1167
11201 Patrick Henry Hwy
Amelia Court House, VA
 
Redneckmover
(804) 304-1742
Midlothian, VA
 
The Ups Store
(804) 379-7608
13146 Midlothian Turnpike
Midlothian, VA
 
Broadview Mini Storage
(804) 784-4542
38 Broad State Road Far West
Goochland, VA
 
Dillard Construction & Supply Company
(804) 561-4094
3801 Richmond Road
Amelia Court House, VA
 
Amelia Self Storage
(804) 561-3154
14511 Brick Church Road
Amelia Court House, VA
 
Midlothian Mini Storage
(804) 794-1005
14420 Justice Road
Midlothian, VA
 
Bryant AL RL Estate
(804) 794-4531
14361 Sommerville Court
Midlothian, VA
 

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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