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Best Commercial Vehicle Leasing Companies

Commercial vehicle leasing companies offer many great advantages over purchasing fleet vehicles. Plus, you can avoid repair costs, create a positive brand image with the newest vehicle models, improve cash flow and so much more. If you’re in search of fleet leasing, here’s a list of the top options.

Quicklooks: Best Commercial Vehicle Leasing Companies 

  • Best For Transitioning To Owner-Operator: Roehl
  • Best For Lease and Fleet Management Services: GM
  • Best For Heavy-Use Vehicles: Ford
  • Best For Short-Notice Fleet Expansion: Penske 
  • Best For Various Lease and Maintenance Options: Ryder
  • Best For Seasonal Lease: Merchants Fleet

6 Best Commercial Vehicle Leasing Companies

Whether you’re looking to lease a commercial truck, van or other vehicle designed for hauling purposes, keep reading to learn more about the best options for commercial vehicle leasing.

Roehl

Roehl is a trucking company that offers lease purchase equipment for owner-operators. You can become a company driver and take advantage of benefits that help you transition to an owner-operator, including an earned down payment. 

This can help you overcome the challenge of saving for a down payment while meeting everyday expenses. You can start with Roehl, get access to paid CDL training, gain valuable experience and make a smooth career transition to owner-operator.

Best For: Transitioning To Owner-Operator

Contact Information: 

BBB Score: A+

Vehicle Financing and Payment Options:

  • Lease-to-own

Special Features

  • Work as a truck driver for Roehl while paying for the truck
  • $1,500 lease-on bonus to help make your down payment
  • Business Owner Support System (BOSS) 

Benefits:

  • Weekly, consistent pay while truck leasing
  • No need to rent trailers as employees have access to them 
  • Deadhead miles compensation and fuel reimbursement
  • Free inspections and on-site maintenance

Disadvantages: 

  • Committed to driving for Roehl throughout lease-to-purchase program 
  • Lease-to-purchase payments on trucks start at $500 per month
  • Limited to the truck models that Roehl offers  

GM

GM offers an outstanding commercial vehicle lease program. Whether you need a van to start your delivery business or something more like government fleet vehicles, GM has what you need. 

Best For: Lease and Fleet Management Services

Contact Information: 

BBB Score: B-

Vehicle Financing and Payment Options:

  • Open-end lease
  • Closed-end lease

Special Features

  • Upfit and accessorize the vehicle to meet your needs
  • Longer financing terms available
  • Optional fleet management services

Benefits:

  • Full ownership once 24- to 60-month lease program ends  
  • No mileage limits on some lease types 
  • Mileage extension options on plans that do have limitations
  • Assume no residual risk
  • Pay for the portion of the vehicle you use
  • No wear-and-tear charges with some plans 

Disadvantages: 

  • Limitations on closed-end leases 
  • Restrictive mileage limits 
  • Often requires high credit scores

Ford

Ford offers lease options for vehicles from standard cars to heavy-duty trucks. You can upfit the vehicles to meet your company’s commercial use needs. So if you’re looking to lease a truck, this could be a great place to do that. The most notable aspect of the lease plan is that it is a good fit for heavy-use vehicles or those that you’ll put many miles on.

Best For: Heavy-Use Vehicles

Contact Information: 

BBB Score: A+

Vehicle Financing and Payment Options:

  • Open-end lease
  • Short-term lease 

Special Features:

  • High-mileage lease options
  • Can lease used vehicles
  • CNG and propane autogas, bi-fuel and battery electric vehicles 
  • Upfit vehicle options

Benefits: 

  • Various terms available from 24 to 60 months
  • Residuals based on lease length
  • Heavy duty trucks available
  • No mileage restrictions or mileage penalties
  • Option for combined billing  

Disadvantages: 

  • Cannot use Ford commercial lease vehicles for livery operations
  • Not a standard lease-to-own program as you’ll need to pay residuals at the end 

Penske

Penske makes it possible for you to lease vehicles so that you can build your fleet. Plus, the Penske Sell2Lease program is unique in that you can trade up your trucks with ease while starting a new lease program. 

Penske is a leading trucking business with outstanding technology and services that can help your business succeed in a variety of ways. And when you need to add to your fleet at a moment’s notice, Penske can help with short-term rentals.

Best For: Short-Notice Fleet Expansion 

Contact Information: 

BBB Score: A-

Vehicle Financing and Payment Options:

  • Open-end lease
  • Short-term lease

Special Features

  • Commercial vehicle leasing company with short-term rentals available
  • Vehicle upgrade options while using your current vehicle as collateral 
  • Contract maintenance
  • 24/7 roadside assistance
  • Full-service leasing
  • On-site maintenance

Benefits:

  • Access to Penske Driver App for free electronic logs and tools for truck drivers 
  • Regulatory support 
  • Industry leader in electric fleets 

Disadvantages:

  • More expensive lease programs than other companies 
  • Might pay for services you don’t actually need 

Ryder 

Ryder offers semi-trucks, box trucks, vans and trailers that you can use to outfit your fleet. You’ll also find three tiers of leasing options based on your maintenance preferences. You can choose from a variety of options to help you manage cash flow and taxes on the vehicle lease.

Best For: Various Lease and Maintenance Options

Contact Information: 

BBB Score: A+

Vehicle Financing and Payment Options: 

  • Closed-end lease
  • Lease to own 

Special Features

  • Options for accelerated tax benefits through maintenance cost deductions
  • No down payment on a fair market value lease
  • Lower residual risk with a fair market value lease
  • Tools for reducing monthly lease payments  

Benefits:

  • Access to a variety of vehicles designed for hauling
  • Maintenance assistance with certain plans 
  • Licensing, safety and compliance included in leases 
  • RyderGyde app for maintenance and fuel monitoring

Disadvantages:

  • Poor customer ratings at certain locations 
  • Limited options when it comes to truck types 

Merchants Fleet

No matter the type of commercial vehicle you need, you’ll find financing and leasing services through Merchants Fleet. Since Merchants Fleet works directly with dealers, you can lease from any dealer and Merchants Fleet will handle the financials for you. Plus, you can select from short- or long-term leases.

Best For: Seasonal Lease

Contact Information: 

BBB Score: A

Vehicle Financing and Payment Options:

  • Open-end lease
  • Closed-end lease
  • Short-term lease
  • Long-term lease
  • Seasonal lease
  • Value lease

Special Features

  • Representatives to help you throughout the life of your commercial vehicle
  • Tools for owning or leasing commercial vehicles
  • Vehicle sourcing tools
  • Vehicle upfitting and branding to meet your needs 
  • Maintenance plans
  • Re-leasing

Benefits:

  • Extremely flexible programs you can tailor to meet your needs 
  • Vehicle buyback program   
  • Lease terms that meet your needs
  • Seasonal lease options for short-term vehicle needs

Disadvantages: 

  • Requires dealing with third parties in addition to the vehicle dealer 

Leasing Options Designed for Fleets

When working with a commercial leasing company, you’ll find options and features specifically designed for fleets. This is a great benefit for companies looking to expand their services and grow their fleet while maintaining cash flow and their current operations.

FAQ

Is Business Car Leasing a Good Idea?

Yes, business car leasing can help you budget for expenses and keep your vehicles new, which can reduce the likelihood of roadside breakdowns that would otherwise impact your business negatively.

Can I Lease a Van for My Business?

Yes. You’ll find van leasing from Ryder, Penske and a variety of other commercial vehicle leasing companies.

Is Leasing a Waste of Money?

You won’t acquire equity in a vehicle with a standard lease, but you can look for a lease-to-own program to avoid this issue. You will also have to consider the reduction in maintenance costs that you’ll enjoy while leasing a new vehicle instead of owning one for many years.

Truck leases for as low as $525 a week with Roehl

Designed to give experienced drivers or previous lease purchase/owner operators with limited financial resources a pathway into truck ownership.

Truck leases for as low as $525 a week with Roehl

Designed to give experienced drivers or previous lease purchase/owner operators with limited financial resources a pathway into truck ownership.