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Truck Leasing Pros and Cons Springfield MO

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.

REC Vee World
(417) 887-4041
3150 South Campbell Avenue
Springfield, MO
 
Colonial Storage Centers
(417) 883-0987
3194 South Campbell Avenue
Springfield, MO
 
Two Men and A Truck
(417) 866-0376
2025 East Chestnut Expressway Suite B
Springfield, MO
 
Elm Street Storage
(417) 831-7368
East Elm & S Patterson
Springfield, MO
 
AA Storage Midtown
(417) 864-8458
641 South Campbell Avenue
Springfield, MO
 
Aanthony's Security Storage
(417) 868-8768
6625 West Highway 60
Springfield, MO
 
A and A Mini Storage
(417) 831-3647
2745 South Maple Leaf Lane
Springfield, MO
 
Battlefield Storage
(417) 886-4455
2045 West Sunset Street
Springfield, MO
 
Sun-West Storage
(417) 864-7722
4109 West Sunshine Street
Springfield, MO
 
SMC Packaging Group
(417) 831-2685
900 North Belcrest Avenue
Springfield, MO
 

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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