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Truck Leasing Pros and Cons Rock Springs WY

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.

Arambel John Trucking
(307) 382-6645
2210 Commerce Street
Rock Springs, WY
 
Basic Energy Services
(307) 382-4776
360 Signal Drive
Rock Springs, WY
 
Gordyco Transportation Inc
(307) 362-2236
204 Gannett Drive
Rock Springs, WY
 
U-Haul CO - Independent Dealer- Rock Springs
(307) 382-8604
86 North Center Street
Rock Springs, WY
 
AACE Self Storage
(307) 362-2326
1180 Palisades Court
Rock Springs, WY
 
Hyland Enterprises Inc
(307) 382-6805
50 Tri State Road
Rock Springs, WY
 
J & R Trucking
(307) 362-2919
1012 Sprucewood Drive
Rock Springs, WY
 
John Bunning Transfer CO Inc
(307) 362-3791
1600 Elk Street
Rock Springs, WY
 
Zueck Transportation
(307) 362-3622
240 Production Drive
Rock Springs, WY
 
Reinhart Moving Inc
(307) 362-5653
6 Bowker Road
Rock Springs, WY
 

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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