Pros and Cons of Lease to Own Trucking

Lease to own trucking refers to the trucker who leases a truck, pays the initial deposit and lease fee, then they are able to purchase the truck on a set date. This option is great for a lease to own trucking companies that want to be in control of their future and work hard to be financially independent.



1) Fast and convenient financing

The average lease-to-own financing is between forty-five and ninety days. The fast approval period makes this option available to small business owners who have limited financial capacity. This is a great option for those whose credit score is less than perfect and do not qualify to be part of the bank lending program.

2) Keeps the truck in personal ownership

The main advantage of lease-to-own trucking is that it keeps the trucker in control of his/her next truck and road. This is a huge advantage especially when a driver is looking for a specific model and can’t afford the initial down payment. That way, he/she has the option to purchase the same model after two years on lease or immediately if they can afford it. This is a really good deal and the driver has no need to worry about the truck breaking down or getting stolen because they can directly purchase it.

3) You are in control of your future

In lease to own trucking, you are the owner and manager of your business. You have full control over how much you make, how to drive, fuel consumption, among others. Being in control of your business allows you to decide whether or not you want to lease a new truck when your lease expires. This works for drivers who want to drive for one business only and avoid the stress of traveling between different trucks.

4) Less money upfront

The initial down payment is lower than what it would be to buy a new truck each year. If you are daydreaming about buying a new truck one at a time, this option is not for you. However, if you have a fleet of trucks, this option can be beneficial to your company.

5) Less maintenance cost

Owning a truck is a tough job. It requires constant maintenance in order to avoid costly repairs. In addition, you will have to have the truck serviced at least every two years. However, with lease-to-own trucking, you don’t need that much money upfront to start your business because most leases offer a very low down payment.


1) You must have a very good credit score to qualify for this option

In order to get the best lease deal, drivers need to have a good credit rating. Some leases may require them to make more money upfront before they will allow them to qualify for the lease. This can be difficult considering that many drivers earn the minimum wage and do not have any savings at all.

2) The initial deposit may not be refundable

One of the biggest concerns of drivers when it comes to leasing to own trucking is the initial deposit. Some leases will not refund their money regardless of how long they drive for the company. Therefore, it’s important for drivers to find out if they can get their initial deposit back before signing up for this option.

3) High lease payments

In some cases, you may have to pay more than what you would have paid if you owned a new truck. It’s important to research both lease options thoroughly before deciding which route is best for you. You can find good deals on the internet or you can also ask someone who has been driving for a long time.

4) Finance options are not available to small business owners

Many lease to own companies offer financing options exclusively for big businesses but they don’t offer any answers for smaller businesses. From my experience, I would say that it’s very difficult for a small business owner to obtain a lease to own truck financing option.


Lease to own trucking is a good option for those who want to own their trucks one at a time. This is important because it will help them avoid the stress of driving trucks that are not wanted or that don’t match the specs they need in order to keep their business running smoothly.