Best Truck Lease Deals $0 Down (2024)

FAQs

Is leasing a truck ever a good idea? ›

Leasing can be a great option for fleet owners who want more flexibility, access to newer vehicles, and worry-free maintenance coverage. However, it's important to weigh the pros and cons carefully and consider your specific needs and goals before choosing between leasing and buying a vehicle.

Trucks are built to be durable, which gives them a high resale value. And demand from fleets and individuals who need trucks for their job can outstrip supply. If used trucks aren't that attractive of a proposition, you might as well buy a new one.

For the best shot of being approved for favorable lease terms, you should have a credit score of at least 700. Some companies may be willing to lease to you with a lower credit score, depending on the cost of vehicle, down payment, and other credit or contract terms.

Toyota received Overall Best Resale Value award for the seventh time in eight years with five total category wins. The 2024 Toyota Tundra full-size pickup truck has a resale value of 60.4%.

Avoiding sales tax can be incredibly beneficial to your car purchase, but it's only possible in some states. Alaska, Montana, Oregon, Delaware, and New Hampshire have no statewide sales tax. You'll note that these states also generally correspond to the states with the lowest unexpected fees.

Prices on new cars are expected to drop in 2024 as the industry moves beyond the supply-chain issues that pushed up auto prices during the pandemic, which will gradually ease the prices on used vehicles as well. That's welcome news for car shoppers who have faced record-high prices over the past couple of years.

What is the best down payment for a truck? ›

A down payment between 10 to 20 percent of the vehicle price is the general recommendation. But if you can afford a larger down payment, you can save even more money on interest payments over the life of the loan. By dropping the amount financed, you save some even before you start negotiating the car price.

For states where people drive a lot of trucks, there may be lots of inventory to pick from and deals from new car dealers. West Virginia is the cheapest state to buy a truck from a dealer. Connecticut is the cheapest state to buy used trucks.

Though inventories of new autos are still well below the roughly 4 million level that prevailed before the pandemic, analysts and dealers say the rising availability suggests that 2024 will be the most affordable year of the past five in which to buy a new car or truck.

As a general rule of thumb, a gas work truck with more than 100,000 miles on the odometer may be considered high mileage, although this will vary depending on the specific make and model of the truck, as well as its condition and maintenance history.

With the arrival of 2024 models and the presence of numerous 2023 models still on dealer lots, it's likely that truck prices will continue to decline in the coming months. It's finally a buyers market, at least for educated truck shoppers. We forecast new truck prices to fall another 3-5% this summer.

Pros of lease purchase trucking

The biggest advantage is that you get access to a new, high-quality truck at an affordable price without having to buy one outright. Without a lease purchase agreement, many owner operators are limited to used vehicles, many of which require extensive maintenance.

Leasing reduces maintenance and repair expenses.

The longer you own a truck, the higher maintenance and repair costs will be. This includes givens like tires, oil changes and routine inspections. A full-service lease will cover maintenance and repairs at predictable monthly costs.

By leasing a commercial truck, you can obtain better profits for your business since your monthly payments are lower. As a result, you get to keep more money in your company's bank account. Furthermore, when there's less paperwork to do, you can have more time to devote to your business.

However, that's not always the case. In fact, many high-mileage drivers would actually be better off leasing rather than purchasing. Both dealerships and independent leasing companies often offer higher mileage leasing options that may better suit your needs.