Owner-operators · Equipment
Truck lease vs buy calculator.
Put the loan and the lease side by side over the number of months you expect to run the truck. Enter your own quotes; the page assumes no rates or prices.
With the example figures, buying a $150,000 truck with $15,000 down at 8.5% over 60 months costs $121,183.90 net of a $60,000 resale value ($2,019.73 a month). The lease example costs $161,000.00 ($2,683.33 a month), so buying is cheaper by $39,816.10. Replace them with your quotes.
Your numbers
Result
Method and limits
Buying. Loan payment = loan × r ÷ (1 − (1 + r)−n) with r the monthly rate and n the term. Cash out = down payment + payments made during the period + the loan balance still owed when the period ends. Net cost = cash out − resale value.
Leasing. Cash out = amount due at signing + monthly payment × months + wear charges + buyout. If you pay a buyout you keep the truck, so its resale value is subtracted, just as in the buying case; if you hand it back, nothing is subtracted.
Limits. Fuel, driver pay, insurance and maintenance are left out because they are the same either way unless you enter a difference yourself. Taxes are not modelled: depreciation, Section 179 and lease-payment deductions can change the answer, so ask your accountant. Resale value is a guess, and it moves the result more than anything else on this page.
Nothing you type leaves your browser.
No outside rates
This calculator uses only the numbers you enter and standard loan arithmetic, so there is no outside rate table to cite.
FAQ
Is it cheaper to lease or buy a semi truck?
It depends on your quotes and what the truck is worth when you finish. Enter both and compare the net cost over the months you will actually run it.
What is net cost?
Cash you pay over the period minus the value of the truck you still own at the end.
Why does resale value matter so much?
On a purchase it reduces the net cost dollar for dollar. A $10,000 swing in resale value changes the answer by $10,000.
How is the loan balance worked out?
From the standard amortizing-loan formula using your rate, term and down payment. If your period ends before the loan term, the remaining balance is counted as paid off.
Does this include tax effects?
No. Depreciation, Section 179 and lease deductions are not modelled, so talk to your accountant before you decide.