New Truck Lease

The decision to get a new truck lease shouldn't be taken lightly. There are a few things to keep in mind to get the best lease deal possible.

Mileage, Wear and Tear

A lease should never be a standard document just copied from one vehicle to another. A truck will generally get more wear and tear as well as mileage than the average sedan. Trucks, by nature, are designed to carry heavier loads, run more mileage, and even tow large items and vehicles. A standard lease will generally have provisions for excess mileage and wear and tear. You need to understand how you will use your truck before you sign a lease with these provisions.

Disposition Fees

Most leases will include a provision for a disposition fee. If you don't plan on purchasing the vehicle at the end of the lease period, you need to keep this fee in mind. This fee covers what it will cost the dealership to prepare the vehicle for resale. Since a truck will endure more wear, the disposition fee can be higher.

Gap Insurance

A lot of leases will require Gap insurance. It's a good idea to make sure your lease includes this as Gap insurance will kick in if your truck is totaled. It's not uncommon in these situations for your insurance carrier to pay out an amount based on market value that is less than what you owe on the vehicle. After a wreck, the truck will be worth much less. The Gap insurance will cover any difference between what you owe and what the insurance covers.