What is the Best Company to Lease a Truck? 7 Options & What to Look Out For

Owning a business is an important milestone for many people, and truck drivers are no exception. In today's world, it is easier than ever before to become an owner-operator who leases a truck and makes a solid living. Before you get too far into the dream, what is the best company to lease a truck?

There are more than a handful of lease-purchase trucking companies, and we've compiled a list of the seven best options to get you started. If you want to become an owner-operator and sign up for a truck lease, these lease programs will help you see to it.

Let's take a closer look.

What is the Best Company to Lease a Truck?

Lease programs are all the rage in this industry because they allow you to get started earning on your driving skill with minimal money down and sometimes even without a credit check. If you want to be your own boss and run your business the way you want, the trucking business might be a natural fit.

Not to mention, working with a leasing company may even be more advantageous than buying. Even though you'll be responsible for the truck payments, you keep more cash in your pocket upfront over buying a truck outright.

Tax benefits also tend to favor those who sign up for a lease-purchase agreement. You may be able to write off some of the cost of your vehicle lease and deduct 100% of your lease payments from the first year (see the IRS rules here).

If all of this sounds like a dream come true, here are our top picks for the best truck leasing companies.

1. Roehl Transport

Roehl Transport is one of the best options for a lease purchase program that requires little to no money out of pocket for owner-operators. They have their BOSS program (Business Owner Support System) to help their workers make the transition from drivers to owner-operators.

The initial down payment on your new truck might even be offset by your earnings with the company. You can join Roehl as an experienced truck driver, finish their coursework for all owner-operators, and work for 90 days to earn a down payment on your own rig.

This allows you to get started with lease purchase programs much sooner than some other companies.

If you opt into their lease purchase program, you can gain access to their maintenance support with terminals across the country. This offsets some of your maintenance costs and keeps you on the road longer.

2. J.B. Hunt

Sometimes, lease purchase drivers might want more options when it comes to where and how they can get started. One of the downsides to becoming an owner-operator is finding a reliable source of work to accumulate the miles needed to pay for your lease. J.B. Hunt is a leader in the trucking industry and can help you to find the perfect lease.

It's important to note that J.B. Hunt doesn't facilitate your lease. Instead, they contract with several third-party lease purchase programs. You get to choose the truck of your dreams with the financing you can afford. When finished, you have guaranteed work through J.B. Hunt to offset the cost of the truck.

Keep in mind that you get benefits beyond the coordination of truck leasing. Owner-operators also get to tap into J.B. Hunt's resources like:

• Tire and fuel discounts
• Roadside assistance discounts
• Discounted truck insurance rates
• Sirius XM discounts
• Third-party health programs.

3. Nova Lines

Some people looking for the best lease purchase programs aren't necessarily interested in the lowest price. Nova Lines presents you with options for top-of-the-line truck leasing that benefits you not just here and now but well into the future. Entering their lease program is simple compared to the hoops you may have to jump through elsewhere.

You can walk away at any time, or you can own your truck at the end of the contract if you stick it out. Not only do they not implement a balloon payment at the end of your term, but you can own the truck you leased for just $1.

They can promise consistent weekly income so that you are certain to make the payments on your lease. You have some flexibility in your work schedule. You can choose to go home every two to three weeks, depending on what part of the country you are servicing.

4. KSM

Are you looking for lease purchase agreements that get you into a truck sooner rather than later? KSM is one of the best lease purchase programs out there for its flexible payment options. They require no down payment, no balloon payment, and no credit check. Payments can be as low as $500 per week, depending on the model year and features.

You can be either a company driver for them to get some experience under your belt or move into their lease purchase plan.

One of the best features of this lease purchase trucking company is that they offer the use of loaner trucks when yours needs maintenance. That means that an owner-operator never needs to forgo their income just because their truck is in the shop or needs a little TLC.

5. Swift Transport

Another great option among the best company to lease a truck is Swift Transport. Their lease purchase program is great for any driver who is just getting started and wants the flexibility to work when, where, and how they want. Plus, you get the pick of both new and used trucks to suit your business needs.

Many drivers benefit from the accompanying perks of working with Swift Transportation. Some of the benefits for owner-operators include:

• Toll passes
• Available insurance plans
• Fuel protection program
• Regional fleet consultants
• 24/7 road support
• Optional rental trucks
• Access to truck washes, fitness centers, and laundry units.

As you can see, their lease purchase program goes beyond just outfitting you with truck leasing. Even so, it's important to note that they don't use credit checks and offer $0 down lease options so that you can start your own business as soon as possible.

6. PGT Trucking

Lease purchase drivers are often worried about the hidden costs of getting their own truck and making the transition to being owner-operators. Similar to when you purchase a personal vehicle, you might get hit with unexpected fees: taxes, insurance, and tags -- just to name a few.

PGT Trucking offers you the solution to keep more money in your pocket.

They bundle those costs into flexible contracts, and they may not even require a down payment to start their truck leasing program. Another benefit to this lease purchase trucking company is that they defer your initial payments for four weeks, giving you time to save up. PGT also takes away trailer rental fees during this period.

For no money down and no balloon payment, this is one program you won't want to miss out on. Get fuel discounts, weekly settlements, and other perks like filing state road and fuel taxes on your behalf.

7. Schneider

Another great option for the best lease purchase trucking companies is Schneider. This well-known trucking company offers both new and gently used trucks to company drivers. It ensures that your truck lease is the perfect fit for you, your budget, and your business.

Like many of the other options here, Schneider's lease program takes into account more than credit. Even if you have bad credit, it doesn't necessarily exclude you from their lease-purchase trucks. They also offer low down payments on their trucks to get you moving faster.

Plus, you get to set money aside in a maintenance account each month and can benefit from their "above-industry-standard" warranty plans.

What to Look for in Lease Purchase Trucking Companies

Maybe you're ready to make the transition from company driver to owner-operator. A truck lease is certainly the first step in the right direction if you want to be your own boss and take advantage of programs that allow you to earn more per mile (or based on a percentage).

Here are a few things to consider before you sign up for a truck lease with any of these lease-purchase trucking companies.

Monthly Payments and Final Payment Options

The best thing you can do upfront is to ensure that you have steady work that will cover the cost of the lease program. Truck drivers should consider taking on work with some of the companies listed above because they are reliable.

After all, the leasing company wants your weekly payment -- no matter what. Make sure you can make your payment with steady work.

You should also be aware of any balloon payments at the end of your term. These can sometimes seem affordable when you sign the lease.

However, you might find yourself strapped for cash when it comes time for the final payment. Understand upfront what your final cost will be and when it will be due.

Lease Term and Option to Purchase

How long is your lease term good for? As with all vehicles, truck drivers should be hesitant when it comes to leasing a truck for too long.

Its value deteriorates over time and it becomes susceptible to more repair costs. You don't want to get stuck with a truck that you can't drive due to needed repairs.

However, if the lease term is short enough to make it worthwhile, you might want to buy the truck in the end. This allows you to cash in on the money you already invested in this lease purchase, but you need to know how much the purchase option will cost you.

Some lease purchase trucking companies like Nova Lines allow you to buy the truck for nominal fees after your lease agreements.

Understand Payment Options

Before you sign on the dotted line of a lease purchase trucking program, you should know what the available payment options are.

Lease drivers might be hit with a payment right up front, while other companies have a grace period for you to start working before requiring the first lease payments.

Know how much work you intend to have with the truck leasing companies and how much take-home pay you will get after your monthly payments (or weekly payments) are taken into account.

Truck Maintenance and Upkeep

As new owner-operators, lease drivers are typically responsible for the maintenance and upkeep of their new trucks. While this is pretty standard practice, some lease drivers may want to look into the best company to lease a truck.

They often offer maintenance discounts, discounted rentals while your truck is being serviced, and even fuel discounts.

Some may also help you budget for maintenance, setting aside a specific portion of your pay in a separate account so that those repairs don't blow your budget.

Spot Extra Fees in Your Contract

Lease purchase trucking companies may not spell out exactly what you owe unless you read all of the fine print on your contract.

Make sure you budget for the expenses you didn't foresee: titles, taxes, tags, and even insurance. As is standard with any business deal, read the entire contract before signing anything.

Final Thoughts: Find the Best Company to Lease a Truck

Becoming an owner-operator is a savvy business move if you find your passion is driving on the open road and delivering much-needed supplies across the country. If this appeals to you, what is the best company to lease a truck?

The truth is that it depends on your credit, down payment, long-term plans, and even your geographic location.

Consider reaching out to one of the lease purchase trucking companies to help you make the shift from truck driver to business owner.

If you're ready to launch your business as an owner-operator, here are some creative trucking business name ideas and trucking business slogans! 

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