Buying Trucks V/S Leasing a Truck

A car lease might be best if:

  • You prefer to drive a new truck every two or three years
  • You want to drive a truck that you can afford to lease, but cannot afford to buy
  • You don’t put more than 12,000 to 15,000 miles on your vehicle each year
  • You don’t use the truck in a way that causes excess wear and tear
  • You can’t or don’t want to make a large down payment
  • You use the truck for business purposes and can write-off your lease expenses (ask a tax professional for advice)

Buying might be best if:

  • You plan to pay off the truck, keep it and avoid loan payments for awhile
  • You don’t mind paying for repairs after the warranty period has passed
  • You put significantly more than 15,000 miles a year on a truck
  • You have credit issues–it’s sometimes easier for people with credit problems to buy than to lease
  • You might want to trade it in for another truck in less than two years
  • You want to customize the truck
April 2nd, 2007

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