{"id":5515,"date":"2021-10-28T17:38:35","date_gmt":"2021-10-28T11:38:35","guid":{"rendered":"https:\/\/carsplan.com\/?p=5515"},"modified":"2023-11-24T14:44:43","modified_gmt":"2023-11-24T08:44:43","slug":"semi-truck-leasing-companies","status":"publish","type":"post","link":"https:\/\/carsplan.com\/semi-truck-leasing-companies\/","title":{"rendered":"The 10 Best Semi Truck Leasing Companies"},"content":{"rendered":"\n
Having a semi-truck for your use can give you a great sense of freedom. There are two main ways to go about \u2013 purchasing or leasing a semi-truck. The option can be expensive, especially if you do not have all the money you need for the cash price. Besides, owning a semi-truck can be demanding, requiring you to pay for maintenance and repairs.<\/p>\n\n\n\n
Luckily, several semi truck leasing companies can give you the vehicle you need without too many conditions. They make it possible for you to act as an independent trucking operator, resulting in improved income. In short, you no longer have to act as a company driver, working on behalf of a certain company. Instead of being paid per mile, you can operate the truck as a small business venture, as you make monthly payments on it.<\/p>\n\n\n\n
Semi-truck leasing refers to the arrangement in which you get a truck from a company for a given period. You can then operate the truck while making regular payments. At the end of the lease period, you can return the truck to the leasing company<\/a> or decide to purchase and own it. The lease usually comes with mileage restrictions to ensure that the truck is in perfect condition when you bring it back. As part of the contract, semi-truck leasing companies may cover the vehicle\u2019s repair and maintenance costs.<\/p>\n\n\n\n Even though leasing a truck has its benefits, it also comes with some disadvantages that might discourage you from trying it. The contract has restrictions on carriers to work, mileage, and other aspects that make it impossible for you to operate the truck profitably. That calls for great care when choosing the company from which you will lease a car.<\/p>\n\n\n\n Semi-truck leasing has several advantages compared to working as a company driver or purchasing the vehicle straight away. They include the following:<\/p>\n\n\n\n A brand-new semi-truck costs anything from $80,000. On the other hand, a used semi-truck starts from $30,000. Whether you choose a brand-new or used truck, the cost can be too high for you to manage. Therefore, you can save yourself the stress by leasing the truck. Whether you get a new or used semi-truck, the leasing company will require you to make a small down payment. After that, you can make small, convenient monthly payments to the end of the lease period.<\/p>\n\n\n\n Semi-truck leases usually last three to four years, which doesn\u2019t hold you down financially for too long. Besides, you can terminate the contract before the end of its term by paying the penalty. Whether you take the contract to the end or terminate it prematurely, it is a short-term commitment. You can use it to test whether a trucking business can work for you. If you discover that it\u2019s not working, you can withdraw from the contract before losing too much money. However, if it works, you can go ahead and buy a new truck for the business.<\/p>\n\n\n\n Even with bad credit, some semi-truck leasing companies can still give you the vehicle you want. That\u2019s because most companies do not carry out credit checks before leasing to you a truck. Where a company does a credit check, the purpose is to gauge the risk of investing in you. The results of the credit check usually determine the amount of the periodic payments. If you have good credit, you will pay less than someone with awful credit. But don\u2019t worry. If you can make the payments regardless of your credit score, this is a great way of getting your semi-truck. It would help if you asked the leasing company how much you would pay before signing a deal. Why would you sign a deal whose obligations you cannot fulfill?<\/p>\n\n\n\n If your lease has a buyout option, you can purchase the vehicle at the end of the lease for a significantly reduced cost. The buyout clause is part of the contract, allowing you to pay an agreed amount to become the vehicle\u2019s owner. Surprisingly, it can be a paltry amount determined by the duration of the lease agreement. If the cumulative amount you have paid so far is substantial, the buyout payment will be very minimal.<\/p>\n\n\n\n Some semi-truck leasing companies offer pay-outs for anyone who completes the lease. The pay-out can be in the form of weeks when you are exempted from paying or money. For example, one leasing company pays $18,000 to all clients completing a 3-year lease period. Once you get the bonus paycheck, you invest it in a new lease or use it for any purpose.<\/p>\n\n\n\n The only way most people can get a state-of-the-art truck is by purchasing a brand-new one. However, that doesn\u2019t always have to be the case. Some leasing companies have the latest trucks, giving you the latest safety features. Since the lease accounts for the expected depreciation, you only get to pay a fraction of the cost. When the lease ends, you can move to a newer, better semi-truck.<\/p>\n\n\n\n While leasing a semi-truck is an excellent option, it comes with several disadvantages. Most of the drawbacks are related to how leasing companies handle their clients. The following are some of the major disadvantages of semi-truck leasing:<\/p>\n\n\n\n Several semi-truck leasing companies exist across the United States, which you can approach whenever you wish to lease a truck. The following are detailed reviews of some of these companies:<\/p>\n\n\n\n Home L.R.M. leasing company is located in Greensboro, NC. It was established in 1980 as a family-owned business specializing in leasing semi-trucks. If you lease a truck from this company, you will pay a $5,000 to $8,000 downpayment and monthly payments starting from $1,200. Hiring a semi-truck begins with you signing up and taking the truck for an inspection. If you are satisfied with the car, you can keep it. Otherwise, you can return the car for a refund of your deposit. The company gives you access to its repair shops at cheaper rates. Besides, you can choose if you want weekly, monthly, or semi-monthly payments.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n California Semi-Truck Leasing targets clients in Los Angeles, San Diego, and San Francisco. The company is located in Oakland, California and specialises in leasing commercial and business semi-trucks. It goes further than leasing trucks but provides clients with the opportunity to become owner-operators. The company has a variety of trucks and can efficiently serve all client needs. It also prides itself in offering leasing services even to clients with bad credit. You can therefore get a semi-truck and use it to make monthly payments and rebuild your credit.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n Apart from leasing services, Continental Lease L.L.C. provides truck purchase and finance options. The company doesn\u2019t do credit checks or require a down payment. Clients also get vehicles without the usual mileage restrictions and balloon payments. Besides trucks, the company stocks cars, jeeps, sports utility vehicles, and minivans. The company provides leases with attractive tax advantages and tailor-made to customers\u2019 cash flow requirements. It is located in Indianapolis, IL and has branches all over the United States.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n Lone Mountain Truck Leasing is the go-to place for individuals looking to make little or no down payments and minimum monthly payments. The company is situated in major U.S. cities like Las Vegas, NV, providing clients with affordable semi-truck leases across the state. It has an in-house finance company that makes it easier for you to qualify for a lease regardless of your credit history. The company is more interested in your driving experience, work history, and carrier. You can either get in touch with them over the phone or in person.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n O.T.R. Leasing specializes in big-name semi-truck companies like Freightliner, International, Volvo, Kenworth, and Peterbilt. It provides financing to truckers looking for independence across the United States. Apart from getting access from a truck, leasing from O.T.R. gives you numerous educational and support programs. The company makes sure that you succeed on the road as an independent trucker. It has several attractive short-term truck leasing deals for anyone looking to start as an independent trucker.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n M.C.H. Leasing is a privately-owned company by PacLease Network that provides full-range services and contract maintenance programs. It has over 480 leasing locations across the United States, which means you will likely find one near you. You can easily rent a truck by filling in a form. A customer service representative will take up your case, call you, and make an offer. For business clients, the company takes time to analyze your needs before offering you a deal. You may get short-term or long-term semi-truck rental depending on your needs.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n If you haven\u2019t tried Ryder for semi-truck leasing, you are probably alone. The company has a nationwide network of over 800 service stations in the United States. Ryder semi-truck leasing services give drivers access to the vehicles they need to operate independently of trucking companies<\/a>. They have a variety of vehicles from industry leaders, helping you build your business from scratch. If you are looking for box trucks, straight trucks, cargo vans, or refrigerated vehicles, Ryder is the place to go.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n H.E.C Leasing L.L.C. is a Shelbyville, TN based company that operates in multiple locations across the country. It provides financed leasing of semi-trucks to anyone seeking to work as an independent trucker. Clients can lease a truck by filling in a form, after which a customer representative will reach out to them. You might be asked to fill in details like the vehicle\u2019s make, model, year, type, and whether you need an appointment. As a family-oriented small business, H.W.C Leasing L.L.C. strives to meet clients\u2019 needs and help them succeed.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n Wyatt Leasing L.L.C. is a company based in Cashmere, WA. It offers semi-truck leasing services tailor-made for client needs. After making the no-fees application, you will get approval within 24 hours if you have no issues. It services the entire U.S. market in multiple locations in many of the major cities. Both small and medium-sized businesses can access secure, flexible, and fast leasing terms with competitive rates. Whenever you have issues with your truck, you can reach out to the company around the clock.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n With Company Truck Rental and Leasing, you can obtain a new semi-truck at fixed costs devoid of deprecation losses. Once it has leased you a truck, the company provides round-the-clock support to help your business grow. For sure, there is no better way to gain flexible leasing deals<\/a>. The company\u2019s headquarters is in Burr Ridge, IL; even though it operates in multiple locations across the U.S., it can give you access to flatbed, dry vans, refrigerated trucks, and drop decks.<\/p>\n\n\n\n Pros:<\/strong><\/p>\n\n\n\n Cons:<\/strong><\/p>\n\n\n\n With a less than impressive credit score, it can be hard for you to lease a semi-truck. Most leasing companies often use credit scores to determine how risky a customer is. However, you can still qualify for a lease if the leasing company is ready to assume the risk. In that case, you will end up paying more in monthly fees. Here are several ways you can qualify for a semi-truck lease with poor credit:<\/p>\n\n\n\n Leasing companies often impose different restrictions when leasing out their semi-trucks. Depending on the details of the contract and the company\u2019s internal practices, a lease deal may drive you into financial trouble. However, there are certain things you can do to avoid digging a financial pit when you lease a truck. Here are a few suggestions:<\/p>\n\n\n\nAdvantages of Semi-Truck Leasing<\/h2>\n\n\n\n
1. Low Down Payment<\/h3>\n\n\n\n
2. Short-Term Commitment<\/h3>\n\n\n\n
3. Minimal Credit Checks<\/h3>\n\n\n\n
4. Buyout Options<\/h3>\n\n\n\n
5. Lease Completion Pay-outs<\/h3>\n\n\n\n
6. State-of-the-Art Trucks<\/h3>\n\n\n\n
Disadvantages of Semi-Truck Leasing<\/h2>\n\n\n\n
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The 10 Best Semi-Truck Leasing Companies<\/h2>\n\n\n\n
1. Home L.R.M. Leasing<\/h3>\n\n\n\n
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2. California Semi-Truck Leasing<\/h3>\n\n\n\n
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3. Continental Lease \u2013 Truck Leasing<\/h3>\n\n\n\n
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4. Lone Mountain Truck Leasing<\/h3>\n\n\n\n
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5. Semi-Trucks for Lease \u2013 O.T.R. Leasing<\/h3>\n\n\n\n
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6. M.C.H. Leasing and Rental<\/h3>\n\n\n\n
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7. Semi-Truck Leasing with Ryder<\/h3>\n\n\n\n
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8. H.E.C Leasing L.L.C.<\/h3>\n\n\n\n
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9. Wyatt Leasing L.L.C. Semi-Truck & Trailer Leasing Company<\/h3>\n\n\n\n
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10. Compass Truck Rental and Leasing<\/h3>\n\n\n\n
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How to Get a Semi-Truck Lease with Bad Credit<\/h2>\n\n\n\n
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How to Get and What You Want from Semi-Truck Leasing Companies<\/h2>\n\n\n\n
1. Ask for Referrals<\/h3>\n\n\n\n