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Truck Leasing Pros and Cons West Fargo ND

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.

5 Star Moving, Inc.
(701) 356-6683
Po Box 8131
Fargo, ND

Data Provided by:
Fargo Storage
(701) 492-8900
5523 53rd Avenue Southwest
West Fargo, ND
 
Dakota Storage Products Inc
(701) 281-1209
405 Main Avenue West
West Fargo, ND
 
A Storage Place
(701) 282-6620
677 43 Street Northwest
West Fargo, ND
 
Sheyenne Storage
(701) 356-5999
Sheyenne & 194
West Fargo, ND
 
ABC Trade Center
(701) 277-8650
Main Avenue & 46th South
West Fargo, ND
 
Hogenson Ronald Trucking
(701) 281-3838
2009 Main Avenue East
West Fargo, ND
 
North American Van Lines Agent
(701) 277-3631
3939 7th Avenue Northwest
West Fargo, ND
 
West Fargo Self Storage
(701) 281-1820
Po Box 854
West Fargo, ND
 
Dakota Moving and Storage
(701) 478-6683
1025 Center Street
West Fargo, ND
 
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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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