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Truck Leasing Pros and Cons Racine WI

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.

Two Men And A Truck
(262) 619-9222
7886 Washington Ave
Racine, WI
 
Merchant Moving & Storage
(847) 295-1943
Racine, WI
 
Evans Moving Inc
(262) 637-6683
2625 Taylor Avenue
Racine, WI
 
World Wide Box & Packaging
(262) 637-8044
3123 S Memorial Dr
Racine, WI
 
Floyd's Towing & Recovery
(262) 637-6589
1525 Durand Avenue
Racine, WI
 
Norby & Sons Moving Company
(262) 634-4713
2732 Sheridan Road
Racine, WI
 
D and D Vacuum Sales and Service
(262) 632-1191
1353 Washington Avenue
Racine, WI
 
C Coakley Relocation Systems
(262) 633-6865
1721 Packard Avenue
Racine, WI
 
Merchants Moving & Storage
(262) 631-5680
1215 State Street
Racine, WI
 
Wisconsin Quality
(262) 637-1306
2200 De Koven Avenue
Racine, WI
 

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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