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Truck Leasing Pros and Cons Sioux Falls SD

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.

Burns Moving And Storage
(605) 336-3134
4205 N 4Th Ave
Sioux Falls, SD

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Business Archives
(605) 336-9981
4205 North 4th Avenue
Sioux Falls, SD
 
Crane Rental & Rigging CO Inc
(605) 367-1665
1210 West Delaware Street
Sioux Falls, SD
 
Bauer Warehousing CO
(605) 336-9171
1101 West Blackhawk Street
Sioux Falls, SD
 
Herc-U-Lift Inc
(605) 332-4755
4615 North Cliff Avenue
Sioux Falls, SD
 
Cole Papers
(605) 335-7123
100 East 40th Street North
Sioux Falls, SD
 
Ceramics by You
(605) 357-8620
2110 West Burnside Street
Sioux Falls, SD
 
Able Auto Glass
(605) 335-6406
1801 West Burnside Street
Sioux Falls, SD
 
Dakota Accoustical Tile CO Inc
(605) 332-5431
1508 West 3rd Street
Sioux Falls, SD
 
Jim Hawk Truck Trailers Inc
(605) 338-6365
1401 East Benson Road Suite 1
Sioux Falls, SD
 
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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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