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Truck Leasing Pros and Cons Waynesboro VA

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.

Shields Self Storage
(540) 932-1003
90 Parkview Drive
Waynesboro, VA
 
Case Construction Equipment
(540) 885-1255
359 South Oak Lane
Waynesboro, VA
 
Rail & Nail Building Supply
(540) 949-0144
1805 East Side Highway
Waynesboro, VA
 
Hopeman Self Storage
(540) 941-0004
980 Hopeman Parkway
Waynesboro, VA
 
Lawrence Transportation Systems
(434) 296-0131
359 South Oak Lane
Waynesboro, VA
 
South River Complex
(540) 943-4896
200 12th Street
Waynesboro, VA
 
Scrogham Gary Storage
(540) 949-0144
1805 East Side Highway Suite STE
Waynesboro, VA
 
Lawrence Transportation Systems United Van Lines
(540) 434-1463
359 South Oak Lane
Waynesboro, VA
 
Budget Truck Rental - Truck Rental Reservations
(540) 949-7475
1462 East Main Street
Waynesboro, VA
 
U-Haul Co
(540) 949-8093
1235 W Broad St
Waynesboro, VA
 

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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