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Truck Leasing Pros and Cons Texarkana AR

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.

Uhaul Co.
(903) 794-0054
6800 N State Line Ave
Texarkana, AR
 
Affiliated North American
(870) 773-4628
600 East Broad Street
Texarkana, AR
 
Uhaul Co
(870) 773-0775
2324 N State Line Ave
Texarkana, AR
 
Lockaway Storage
(903) 223-9922
1407 South Kings Highway
Texarkana, AR
 
Budget Truck Rental
(870) 772-1917
2113 East Broad Street
Texarkana, AR
 
Ace Moving & Storage Inc
(870) 773-4628
600 East Broad Street
Texarkana, AR
 
Ragland Piano CO
(903) 791-1758
314 Main Street
Texarkana, AR
 
U-Haul CO - Independent Dealers- Texarkana AR
(870) 773-7816
625 East 9th Street
Texarkana, AR
 
A Affordable Moving Company
(870) 774-9224
Texarkana, AR
 
B Whites Airport Mini Storage
(870) 774-2171
91 Globe Avenue
Texarkana, AR
 

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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