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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.

Thompson Sewell R V Sales & Service Center
(417) 882-6350
3411 South Scenic Avenue
Springfield, MO
 
Thomas Brothers Office Furnishings
(417) 865-2876
320 West Walnut Street
Springfield, MO
 
Koa Kampground
(417) 831-3645
5775 West Farm Road 140
Springfield, MO
 
Battlefield Storage
(417) 886-4455
2045 West Sunset Street
Springfield, MO
 
Central Self Storage
(417) 865-5658
1324 East Saint Louis Street
Springfield, MO
 
Affordable Moving Service
(417) 832-0088
Springfield, MO
 
Aplus Mini Storage
(417) 868-8101
2106 East Rockhurst Street
Springfield, MO
 
U-Haul Co
(417) 866-2857
309 N Lulwood Ave
Springfield, MO
 
A-1 Self Storage
(417) 831-1835
2873 East Chestnut Expressway
Springfield, MO
 
Smurfit-Stone Container Corporation
(417) 862-3531
460 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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