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Truck Leasing Pros and Cons Yankton SD

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.

Abler Transfer Inc
(605) 665-9621
Yankton, SD
 
Vanderhule's Medical & Industril GS and Spply DVSN
(605) 665-7413
924 Broadway Avenue
Yankton, SD
 
Masonry Components Inc
(605) 665-7800
3702 Leader Lane
Yankton, SD
 
U-Haul CO - Independent Dealers- Yankton
(605) 665-2447
1201 Ellis Road
Yankton, SD
 
Premium Best Transport
(605) 665-0162
1501 Wek Road
Yankton, SD
 
Williams Distributing CO
(605) 665-8719
31051 435th Avenue
Yankton, SD
 
Lonnie's Gun Repair
(605) 665-2286
706 West 15th Street
Yankton, SD
 
Huber Storage
(605) 665-2286
8th & Burleigh
Yankton, SD
 
Art's Eastside Storage
(605) 665-9033
1001 East Highway 50
Yankton, SD
 
Slowey Construction Inc
(605) 665-8489
Po Box 113
Yankton, SD
 

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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