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Truck Leasing Pros and Cons Sheridan 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.

Budget Truck Rental - Truck Rental Reservations
(307) 672-2076
2350 Coffeen Avenue
Sheridan, WY
Lou's Transfer & Storage CO Inc
(307) 674-7842
201 Broadway Street
Sheridan, WY
Scheckla Craig
(307) 674-6305
54 Industrial Lane # 671
Sheridan, WY
Crown Rent & Store
(307) 674-4676
230 Scrutchfield Lane
Sheridan, WY
Outlaw Red Transport
(307) 673-2615
Sheridan, WY
Little Goose Storage
(307) 673-2720
334 State Highway 335
Sheridan, WY
Misty Moon Mini Storage
(307) 752-1646
211 Canby St
Sheridan, WY
Midwest Motor Express, Inc.
(307) 674-7757
149 North Custer
Sheridan, WY
Sheridan Self Storage
(307) 674-7552
1818 Terra Avenue
Sheridan, WY
Star Creek Trucking Inc
(307) 672-2988
2899 Big Horn Avenue
Sheridan, 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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