Have you ever heard of leasing a truck? Sure, you have.
There’s the constant debate about the benefit of buying to renting or leasing a truck. For many, buying is not a feasible option.
There are short-term and long-term leases, with the major difference being the lease period.
There is no specific lease period for each category and will vary slightly from company to company.
We’ll discuss all you need to know about short-term truck leases. If you’re interested in how to lease your own truck to reputable company, click here!
How does short term truck lease work?
Leasing a truck involves a contractual agreement where the client pays the owner a specified amount for the use of the truck for an agreed period.
A short-term truck lease is usually longer than a month.
The shortest length of time for a short term lease is dependent on the company offering the lease.
In most cases, these leases are signed by businesses that only need a truck for a particular season or a short project.
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What are the benefits and likely pitfalls?
Short-term truck leasing has its benefits and these are some of the reasons it might be the right choice for you.
The upfront cost of leasing a truck is nothing compared to the amount you need to buy a truck.
This makes it possible for more people to have a truck for their businesses.
- No depreciation cost
Trucks start to depreciate as soon as you start driving them and this can be a massive blow to your business finances.
With a leased truck, you do not bear the depreciation cost since you get to return the truck after the lease period.
At the end of the lease, you can even request another truck.
- Reduced maintenance and repair cost
If you’re on a full-service lease, you will not have to spend extra on maintenance or repairs throughout your lease period.
- Ease of contract extension
It is easier to extend your short-term lease to a long-term one once you realize you will need it for a longer period than you planned.
While a short-term truck lease has a lot of benefits, there are some downsides to it. They include:
- No upfitting
Some leasing companies allow you to make upgrades to your leased truck and even go as far as allowing you to brand the vehicle. For a short-term lease, such changes are usually not permitted.
- Price Instability
With changes in the supply chain, prices are now unstable as ever.
With a short-term lease, if you need to renew, there is no guarantee that the price will be the same for your next lease.
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Short Term Truck Leasing Vs Long Term
The significant difference between short term and long term leasing is the length of time in the leasing agreement. Other differences are:
- Short term leases can easily be extended but long term leases usually attract an early termination fee.
- Short term leases require less commitment than long term leases.
- Short term leases may not enjoy discounted rates like long term leases.
- Although both are leases, with short term leases, upfitting and branding are usually not allowed but long term leases enjoy that benefit.
At the end of the day, whichever kind of lease you choose depends on your needs.
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Best short term pickup truck lease deals
Hotshot truckers and many businesses favor pickup trucks.
Many people decide to lease because of cost investment, so it is only fitting you lookout for the best deals.
To get a great deal, make sure to shop around before deciding.
Deals will vary based on your location and sometimes the length of your leasing period, so be sure you’re inputting the correct details.
Some of the companies that offer the best short-term lease deals are:
- Budget Truck
- Enterprise truck rental
- Advantage truck leasing. View review here!
Ford and RAM also offer good lease deals for their pickup trucks.
Which companies offer short term?
Short term truck leasing is not as common as long term leasing. Some of the companies that offer short term leasing include:
- Merchant Fleets
- MHC Truck Leasing
- Ryder Commercial Truck Leasing – Read reviews!
- Enterprise Truck Rental. Read more here!
It may not be available in all their locations, but it is worth checking them out.
Questions & Answers About Short Term Trucking Leasing!
What are idealease truck rental price?
Idealease truck rental prices are customized based on individuals and their needs.
You will need to fill a contract form to get a quote. Full-service lease customers usually get discounted rates for other rentals.
Expect their prices to vary based on location, season, and the class of truck you want to rent.
Whether you’re experiencing a seasonal peak in your business or you’re working on a small project, a short-term lease will serve you best.
Make sure to find the best deals, ensuring you understand everything in the contract before signing.