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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.

SMC Packaging Group
(417) 831-2685
900 North Belcrest Avenue
Springfield, MO
 
Birdwell Trucking
(417) 832-9761
1756 North Nias Avenue
Springfield, MO
 
Koa Kampground
(417) 831-3645
5775 West Farm Road 140
Springfield, MO
 
Ingram Mill Self Storage
(417) 862-7222
419 South Ingram Mill Road
Springfield, MO
 
Park Avenue Self Storage
(417) 862-7867
840 South Park Avenue
Springfield, MO
 
A1 West Self Storage
(417) 886-6266
1730 West Erie Street
Springfield, MO
 
Ace Moving And Delivery
(417) 848-3872
1716 West Village Lane
Springfield, MO
 
AAA Storage
(417) 869-4171
601 North National Avenue
Springfield, MO
 
A And B Self Storage
(417) 887-1920
3040 West Republic Road
Springfield, MO
 
Elm Street Storage
(417) 831-7368
East Elm & S Patterson
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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