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Truck Leasing Pros and Cons Toledo OH

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.

B & G Moving & Storage
(419) 243-1331
401 Hamilton Street
Toledo, OH
Midwest Paper Specialties
(419) 536-1212
322 Ryder Road
Toledo, OH
B & B Machinery Movers
(419) 241-3100
2100 Hendon Street
Toledo, OH
Action Movers
(419) 661-0756
27696 Oregon Road
Toledo, OH
Budget Truck Rental
(419) 478-8408
Jackman Road
Toledo, OH
Pexco Packaging Corporation
(419) 470-5935
795 Berdan Avenue
Toledo, OH
Pro-Pak Industries
(419) 729-0751
1125 Ford Street
Toledo, OH
Budget Truck Rental
(419) 382-4369
732 South Byrne Road
Toledo, OH
(419) 536-9002
4105 West Bancroft Street
Toledo, OH
Midwestern Bag CO
(419) 241-9955
3230 Monroe Street
Toledo, OH

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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