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Truck Leasing Pros and Cons Searcy AR

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.

The Storage House
(501) 268-5237
2307 East Moore Avenue
Searcy, AR
 
Beavers Johnnie RL Estate
(501) 268-0600
915 East Race Avenue
Searcy, AR
 
Re-Max Advantage Realtors
(501) 268-1115
1507 East Race Avenue
Searcy, AR
 
Uhaul Co
(501) 305-4591
608 Eastline Rd
Searcy, AR
 
Halls Cleaners And Laundry
(501) 268-7890
1500 East Race Avenue
Searcy, AR
 
Ozark Van And Storage
(501) 268-4198
2105 East Booth Avenue
Searcy, AR
 
Franks Auto Transmission
(501) 268-3414
1003 South Main Street
Searcy, AR
 
M N Cleaning Service
(501) 268-0420
2014 East Park Avenue Suite C
Searcy, AR
 
Uhaul Co.
(501) 368-0394
2814 E Race Ave
Searcy, AR
 
Lynns Lock And Storage
(501) 268-9160
1311 North Maple Street
Searcy, AR
 

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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