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Truck Leasing Pros and Cons Williston 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.

Borsheim Crane Service Inc
(701) 572-6301
Highway 2 West
Williston, ND
Storage Plaza
(701) 572-4671
502 East Dakota Parkway
Williston, ND
D & J Transport Inc
(701) 572-4385
Highway 2 North
Williston, ND
What Not Shop
(701) 774-3000
324 2nd Street West
Williston, ND
U Haul CO
(701) 572-2023
3202 2nd Avenue West
Williston, ND
O'Neil Specialized Carrier & Housemoving
(701) 572-3458
Highway 2 & # # 85N
Williston, ND
North American Van Lines Interstate Agent
(701) 572-6165
324 2nd Street East
Williston, ND
Tofte Brothers Construction Inc
(701) 572-4671
502 East Dakota Parkway
Williston, ND
U-haul Co.
(701) 572-2605
1014 2nd St W
Williston, ND
(701) 572-6787
801 8th Avenue West
Williston, ND

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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