Guide
Lease vs buy a truck: seven checkpoints before you sign
Two quotes never compare on the monthly payment alone. The answer sits in four numbers: horizon, resale, end charges and extra repairs.
In short
- Compare cash cost over the months you plan to keep the truck, not the monthly payment.
- The resale value is your assumption and it moves the answer most. Test a lower one.
- Lease end charges and extra maintenance belong in the sum.
- Our lease vs buy calculator does the loan math in exact cents. We do not give tax or finance advice.
Hook. In the calculator's own invented example, buying costs $6,921.63 less over 36 months. Drop the assumed resale by $10,000 and leasing costs $3,078.37 less. The break-even resale is $48,078.37.
The payment is the least informative number
A loan and a lease have different cash timing. A loan front loads equity and leaves a balance at the end. A lease has lower upfront cash and charges at the end. Compare them at the same point in time.
The figure shows cash cost at 36 months. Left, the base case. Right, the same loan with a $10,000 lower resale. The green bar is the cheaper side in each pair. The winner flips.
A flip is the useful signal. If your answer survives a pessimistic resale, you can lean on it. If not, the lease is the safer bet.
The seven checkpoints
Horizon
How many months will you keep the truck? Use that, not the loan term.
Resale
Find comparable listings. Test your number and a lower one.
Interest and fees
Get the rate, term and any fees in writing for the loan.
Lease end
Ask about mileage limits, wear and end charges.
Maintenance
Estimate the extra repairs of owning. Use your own history.
Checkpoints and where the number comes from
| Checkpoint | Ask or find | Source |
|---|---|---|
| Horizon | Months you keep the truck | Your plan |
| Resale value | What similar trucks sell for at that age | Listings you find |
| Loan terms | Rate, term, down, fees | The loan quote |
| Lease terms | Payment, cash at start, mileage and end charges | The lease quote |
| Extra maintenance | Difference in repairs, owned vs leased | Your records |
| Balance owed | What you still owe at the horizon | The loan schedule |
| Cash buffer | Can you carry the down payment? | Your cash flow plan |
Worked example EXAMPLE VALUES
Example data. The same invented quotes as the calculator: a $90,000 truck, $10,000 down, 9.5% over 60 months (payment $1,680.15), against a lease at $1,650 a month with $3,000 at start and $2,000 at end. Kept 36 months, resale assumed $55,000, $150 a month extra maintenance when owning.
| Line | Amount |
|---|---|
| Down payment | $10,000 |
| Loan payments, 36 x $1,680.15 | $60,485.40 |
| Extra maintenance, 36 x $150 | $5,400 |
| Balance still owed at month 36 | $36,592.97 |
| Minus resale (assumed) | -$55,000.00 |
| Buy cost, net | $57,478.37 |
| Lease: start + 36 x $1,650 + end charges | $64,400.00 |
| Buy minus lease | -$6,921.63 |
Buying costs $6,921.63 less. At a $45,000 resale, buying costs $67,478.37 and leasing wins by $3,078.37. The break-even resale is $48,078.37: above it buying wins, below it the lease does.
These are invented quotes, not market prices. The calculator also lets you set your own.
Where it goes wrong
- Comparing payments only. The cash at start and the end charges move the sum.
- Trusting one resale number. Test a lower one. If the answer flips, note it.
- Ignoring the balance owed. A loan leaves a balance at the horizon. Net it against resale.
- Skipping cash flow. A down payment can strain operations. See the 13 week cash flow.
The formulas
Cash view only. No taxes, depreciation or insurance differences.
Your numbers decide
The quotes are invented. Taxes, depreciation write-offs and insurance differences are not modeled. Ask your accountant and verify with a professional.
We do not give legal, tax or financial advice. Your contracts come first.
Questions
Does the calculator include taxes?
No. Ask your accountant about depreciation and lease deductions.
Where does the resale come from?
From you. Use comparable listings. We do not publish used truck prices.
Why test a lower resale?
It shows whether the answer depends on a number you cannot control.
What about a purchase option on the lease?
Add it as an end charge or a buyout line, using the lease quote.
Related: lease vs buy calculator, 13 week cash flow, maintenance reserve, downtime cost, true RPM, all guides.
See what your last 20 loads show.
One short form. We reply by email with the next step, and a one-page report follows. Free, no obligation.
Mon-Fri, 9:00 a.m.-5:00 p.m. Eastern Time (Raleigh, NC). Voicemail is answered the next business day.