Truck leasing: the four kinds of semi truck lease, compared
By Fernandez · Updated October 2026
Truck leasing covers very different deals under one word. This guide compares the four you will meet most often, so you can see who carries the repairs, what happens at the end, and when a lease makes more sense than a loan. Every lease is its own contract, so read yours in full.
The four kinds of truck lease
| Lease type | Repairs | End of term | Who it suits |
|---|---|---|---|
| Full-service lease | Included in the payment | Return or renew | Fleets that want fixed costs and no shop |
| Fair market value (FMV) lease | Usually on you | Return, or buy at market value | Owners who want a newer truck and to trade often |
| TRAC lease | On you | Buy at the set residual, with an adjustment | Businesses with good credit planning to keep the truck |
| Lease-purchase | Usually on you | Title passes after the final payment | Drivers with little cash or credit, often through a carrier |
Terms vary by lessor and change over time. Every approval and price is subject to the lessor's review; check current terms in the contract.
Leasing vs buying on one timeline
Set a lease payment and a lease-purchase against a loan and cash for the same truck, then move the month you stop. The cost bars show what each path has cost you by then, net of what you own.
- Pay cash · lowest net cost here$35,965
Price minus estimated value at this month. You own it.
- Loan$59,343
Down, fees, payments, minus equity (value minus balance). Payment $1,715 /mo.
- Lease (FMV or TRAC style)$64,260
Payments only. You own nothing at the end unless you buy it out.
- Lease-purchase$139,308
Before the balloon is paid you own nothing; cost is what you paid.
Net cost of having the truck for 36 months, from your My Deal numbers and the assumptions above. EXAMPLE only: real offers differ. Not financial advice.
Most leases cost more than a loan over a long life, because the lessor needs a profit and carries the value risk. They can still win when you trade trucks often, need predictable repair costs or cannot tie up a down payment.
What a semi truck lease costs
The monthly payment is only part of it. Look at the deposit and first payment, mileage limits and the charge per extra mile, maintenance that is excluded, insurance the lessor requires, end-of-lease condition charges and the purchase price or residual. Our guide to what leasing a semi truck costs walks through each with EXAMPLE numbers.
Leased or owned, the truck has to earn the payment
Lease payments do not pause for slow weeks. We keep the truck booked, and every rate con is yours to sign.
YOUR NUMBERS, EXAMPLE
- Payment
- $1,715 /mo
- Our fee
- 5% of gross
- YOU KEEP
- the rest
Full-service truck leasing in practice
Full-service lease programs suit fleets that run many trucks in a set area and want one bill. The lessor schedules service, often has its own shops and may provide a substitute truck when yours is down. For an owner-operator running long haul, coverage away from the lessor's shops can be thin, so ask where service is actually available on your lanes.
Lease-purchase is not a regular lease
A lease-purchase looks like a lease but works like a slow purchase with the lessor holding title. Many are offered through carriers, with the driver running under the carrier's authority. Payments, escrow and maintenance funds come out of settlements, and leaving early usually means losing what you paid. Federal truth-in-leasing rules in 49 CFR Part 376 require the terms in writing. Test any offer with the lease-purchase deal analyzer.
Questions to ask before you sign any truck lease
- What is the total of all payments over the term?
- Which repairs and parts are excluded from maintenance?
- What is the mileage limit, and what does each extra mile cost?
- What condition charges apply at return?
- What is the purchase price or residual at the end?
- Can I end the lease early, and what does that cost?
Bad credit changes the options; see bad credit semi truck leasing. For a full comparison with buying, read lease vs buy a truck and truck financing. To know what a truck at the end of a lease is worth, use the semi truck value estimator.
General information about financing, leasing and legal, not financial, tax or legal advice. RigCaptain is not a lender, broker, dealer or insurer. Read every contract and ask a tax professional or attorney about your own deal.
Running under your own authority?
We dispatch carriers with their own MC, any of our eleven rigs. A dispatcher calls you back.