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Truck Leasing Pros and Cons Tooele UT

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.

Landscape Construction Supply
(435) 882-8556
995 North Main Street
Tooele, UT
Toy Box Storage
(435) 882-8697
425 East Cimmarron Way
Tooele, UT
Beehive Storage
(435) 882-3088
1498 North Main Street
Tooele, UT
Tooele Veterinary Clinic
(435) 882-1051
1182 North 80 East
Tooele, UT
Utah Industrial Depot
(435) 843-4500
545 Lodestone Way
Tooele, UT
Safe & Secure Storage
(435) 882-1051
1182 North 80 East
Tooele, UT
A-1 Surestor Self Storage
(435) 882-7224
11 North 1100 West
Tooele, UT
Roundy Joe H Veterinarian
(435) 882-1051
1182 North 80 East
Tooele, UT
Central Storage
(435) 882-0777
943 North 1430 East
Tooele, UT
U-Haul CO - Independent Dealers- Grantville
(435) 884-1177
148 West Main Street
Grantsville, UT

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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