How Much Does it Cost to Rent or Lease a Semi Truck?

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Quick Summary: Cost To Lease a Semi Truck #

Lease payments for a semi truck average between $800 a month for a used truck and $2500 a month for a new truck. Insurance runs as high as $1000 a month. Some dealerships will charge a down payment of around $1000.

Leasing a semi-truck is a popular way to break into the owner-operator business. Unlike buying a truck outright, there's no long term commitment. You have the opportunity to “test out” life as a highway truck owner-operator before deciding if the career path is right for you.

Leasing a semi-truck is also beneficial for drivers who are short on cash or have credit issues. You can lease a truck for little or no money down and then make monthly payments over a span of one to three years. When the lease ends, you can return the truck, trade it in for a newer model or purchase it.

Highway Truck Leasing Average Cost #

There are a number of fees and costs associated with leasing a semi-truck. You'll make weekly or monthly payments for the truck itself. Then there's the cost of insurance, fuel, and maintenance.

Lease payments usually run between $1,000 and $2,500 per month, depending on the type of truck. However, some leasing companies will require weekly payments.

• A new truck can usually be leased for $1,600 to $2,500 per month.
• A used truck often goes for $800 to $1,600 per month.

Sometimes a down payment is required; other times it's not. Often, leasing companies will require more of a down payment from less experienced drivers than those with many years of road experience. Down payments can run up to $1,000, so be sure to ask if one is required before you settle on a leasing company.

Insurance is another regular cost you'll incur. Budget about $800 to $1,500 a month for collision coverage. Costs like fuel and routine maintenance are tough to estimate because they depend on how often and how far you travel, but be sure to estimate how much you'll spend and factor that into the overall cost of leasing a truck. Keep in mind that with most leases the driver is responsible for all repair costs.

All totaled, leasing a semi-truck can be expensive. But, consider that many drivers pull in tens of thousands per month in revenue. Despite the costs there's still plenty of room for profit if you strike a reasonable deal with a reputable leasing company.