How to compare leasing and buying a truck
- Lease cost = upfront + months × (lease payment + lease-only costs) + buyout
- Lease net = lease cost − truck value (only if you take the buyout)
- Loan payment = financed × r ÷ (1 − (1 + r)^−n), r = APR ÷ 12
- Buy cost = down + payments made + loan still owed + months × owner-only costs
- Buy net = buy cost − truck value at the end
- Cheaper = the lower net cost
Costs both options share (fuel, insurance, permits) are left out because they don't change the answer. Taxes and depreciation write-offs aren't included; ask your tax preparer how each option is treated for you.
Worked example
36 months. A lease at $2,500 a month with $3,000 upfront, against a $120,000 truck with $20,000 down on a 0% 50-month loan, $200 a month more in repairs, worth $60,000 after 36 months:
| Lease | $3,000 + 36 × $2,500 = $93,000 |
|---|---|
| Loan payment | $100,000 ÷ 50 = $2,000 a month |
| Buy: paid | $20,000 + 36 × $2,000 + 36 × $200 = $99,200 |
| Buy: still owed | 14 × $2,000 = $28,000 |
| Buy net | $99,200 + $28,000 − $60,000 = $67,200 |
| Answer | Buying costs $25,800 less over 36 months |
Example numbers only. A 0% loan keeps the arithmetic simple; enter your lender's real rate.
Beyond the numbers
The cheaper option on paper isn't always the right one. Buying ties up cash and leaves repairs to you; a lease can limit which carrier you drive for and how many miles you run. Before you sign, make sure the monthly payment still leaves a profit at the rates you actually get: the cost per mile calculator shows that.
FAQ
Is it better to lease or buy a semi truck?
It depends on the offers in front of you. Buying usually costs more each month but leaves you with a truck worth something at the end. Leasing usually needs less cash upfront, and you hand the truck back. Compare both over the same months, after what the truck will be worth then. That is what this calculator does.
How do I compare a lease with a truck loan?
Add everything you'd pay over the same period for each: upfront money, monthly payments and any costs only one option has. For the purchase, add any loan balance still owed at the end, then subtract what the truck would sell for. The lower total is cheaper.
What is a lease-purchase?
A lease where you can or must buy the truck at the end for a set buyout price. To compare one, enter the buyout in the calculator: it adds the buyout to the lease cost and counts the truck's end value for you, just as with buying.
How is the truck loan payment calculated?
With the standard loan formula: payment = amount financed × r ÷ (1 − (1 + r)^−n), where r is the yearly rate ÷ 12 and n is the number of months. The amount financed is the price minus your down payment.
What should I check in a lease-purchase contract?
Who pays for repairs and tires, whether you must haul only for one carrier, what happens if you miss a payment or leave early, the mileage limits and the buyout amount. Read it fully or have someone review it before you sign.
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