Revised February 19, 2026 

Ready to Start Your Truck Lease Journey?

Leasing a truck is, no doubt, a big move. It's an exciting next step toward independence, but, as with any big step, there are some important considerations to be made. As manager of the leasing program here at Anderson Trucking Service (ATS), that's where I come in. I've helped countless drivers work through this same decision, and I've distilled over a decade of experience into this quick, handy guide for you.

Yeah, you.

To begin with, before you become an independent contractor, you'll need to decide:

• What kind of truck fits your goals and lifestyle? Are you looking to earn more? Build equity? Gain flexibility? All of the above?
• Should you choose newer or more affordable older equipment?
• Which company should you lease with?
• Would a short-term or long-term lease work best for you?

Now, it'd be cruel of me to end the article here and let you figure this all out on your own, so...I won't. Here's how we'll break things down:

• Overview of Truck Leasing Options: Common terms and key differences
• Short-Term vs. Long-Term Truck Leases: A detailed comparison
• Pros and Cons of Long-Term Truck Leases
• Pros and Cons of Short-Term Truck Leases
• Factors to Consider When Choosing a Lease Term
• Making the right lease decision & choosing the right company

My goal is to get you one step closer to hitting the road in your own truck, so let's get into it.

Overview of Truck Leasing Options

The major appeal of leasing a truck is that it gives drivers the freedom to get the equipment they need — without the financial commitment of buying. So, what are some of the main differences between short and long-term truck leases?

• A short-term truck lease generally runs anywhere from a few days to 12 months, which is great for temporary projects, seasonal demand, or trying out a new route. But keep in mind: a shorter term means higher monthly payments.
  
  

• A long-term truck lease often lasts between one and five years (sometimes longer), so, as the name implies, these require a more extended commitment. These are ideal for drivers ready to take the next step toward ownership, build consistency with dependable equipment, and keep monthly payments manageable.

That's enough to give you a quick snapshot of how truck lease terms usually break down. But you're here for the nitty gritty, and you know how I like my gritty nitty, so let's get into the details.

Short-Term vs. Long-Term Truck Leases: A Detailed Comparison

Maintenance Responsibilities and Service Coverage

With a long-term truck lease, maintenance and service packages are often included, which helps drivers avoid those surprise repair costs and stay compliant. Short-term leases may cover basic maintenance, but with fewer all-inclusive options. 

Pro Tip: Always review your lease agreement carefully so you understand exactly what's covered and what's not.

Usage Limits and Operational Planning

• Long-term leases often include annual mileage caps, with penalties (added charges) if you go over. As such, these plans require accurate forecasting and steady route planning.
  
  

• Short-term leases are more flexible, offering prorated mileage (where you only pay for the miles used) or lenient caps to accommodate quick or seasonal operations. Again, these plans are ideal for temporary projects, or for schedules that are more...unpredictable.

Pros and Cons of Long-Term Truck Leases

The Good:

• Payments are spread out over several years. This means more consistent, predictable monthly costs, which can help drivers manage their expenses more effectively.
• Access to newer equipment. Many long-term leases include the option to upgrade to newer truck models at the end of the lease term, giving drivers access to the latest fuel-efficient technology, safety features, and performance upgrades.
• Built-in maintenance. Often times, maintenance, inspections, and roadside assistance are included, minimizing downtime and unexpected repair costs.
• Build equity & work toward ownership. One of the biggest advantages to a long-term lease right here. Unlike short-term leases, each payment you make goes directly toward the truck's value, which means each month you move closer to full ownership.
• Additional features. Companies often let you add features like an auxiliary power unit (APU) or a fridge, which you don't get with a short-term lease.

The Bad:

• Mileage caps. As mentioned above, many long-term leases impose mileage limits, and exceeding these, or ending the lease early, can lead to costly penalties. 
• Down payment required. When signing a long-term lease, you'll most likely need to make a down payment before hitting the road. The amount depends on the truck's year, mileage, and condition, but it's safe to plan for a few thousand dollars. But remember: this payment goes toward the overall cost of the truck if you decide to buy later on.
• No completion bonus. Unlike shorter leases, there's no completion bonus when a long-term lease ends.
• Limited flexibility to switch trucks. With a long-term truck lease, you're committing to the same truck for the duration of your agreement. Not ideal if you're the type who likes to upgrade or switch equipment frequently.

Pros and Cons of Short-Term Truck Leases

The Good:

• Flexibility. Short-term truck leases allow drivers to add capacity quickly without a long-term financial commitment — ideal for handling seasonal demand spikes, temporary contracts, or project-based work.
• Try before you buy. These leases are a great way to test out a specific truck model or provider before making a longer commitment.
• Lease completion bonus. Many companies offer a lease completion bonus to drivers who successfully finish their short-term lease agreement — a nice boost after months of hard work on the road. Some drivers repeatedly sign one- or two-year leases to keep those sweet completion bonuses coming. That's an option!
• No money down, no credit check. Yep; it's true for many short-term truck leases, including at ATS.

The Bad:

• Higher costs. The flexibility of a short-term lease comes at the price of higher daily or monthly payments when compared to long-term leases.
• Additional fees & restrictions. Contracts may include additional usage fees, mileage restrictions, or more detailed terms, so again: review the fine print before you sign.
• Fewer new truck options. Inventory fluctuations and high demand can make newer models harder to get into.
• No equity growth. With a short-term lease, you're not building equity in the truck. You're essentially paying to use the leasing company's truck to turn a profit. Good for flexibility, but it doesn't move you closer to ownership (you can buy the truck after your lease ends, but be prepared for a larger balloon payment).

Factors to Consider When Choosing a Lease Term

• Business needs and future growth. Start by evaluating your company's long-term transportation goals. If your freight demand is steady and predictable, a long-term truck lease, with stability and lower monthly costs, may be the way to go. If your business faces seasonal fluctuations or uncertain demand, then the flexibility of a short-term lease is the better move.
  
  
• Financial situation and budget planning. Take a close look at your cash flow, budget, and payment capacity. What's comfortable for you? Again, long-term leases feature lower monthly payments and predictable expenses — ideal for managing a tighter budget. Short-term leases are better suited for staying flexible and testing new opportunities without having to make a long commitment.
  
  
• Market conditions. Economic shifts, changes in the supply chain, and fuel price fluctuations can all impact your trucking operations. If you anticipate market uncertainty or disruptions, opt for the flexibility of a short-term lease so you can adapt quickly to change.
  
  
• Maintenance needs and equipment customization. Think about how much control you need (or want) over truck maintenance, repairs, and customization. Long-term truck leases tend to include comprehensive maintenance packages and allow for more personalization. Short-term leases reduce the responsibility for long-term upkeep, but limit customizations.

Last Stop: Making the Right Lease Decision for You

Ultimately, the choice between a short-term and a long-term lease starts with one simple question: Where do you see yourself in a few years? Are you wanting to...

• Work toward becoming an owner-operator?
• Eventually own your own truck?
• Continue leasing — maybe even staying open to explore other options and industries down the road?

The right lease for you depends on what your goals are.

To recap:

Short-term leases are great if you want maximum flexibility with minimal long-term commitment, and if you prefer driving a new truck every year or two with updated equipment. They allow you to adjust quickly to changes in your career or in the market and most include a lease completion bonus at the end of the term.

Long-term leases are the move for those considering becoming an owner-operator. You build equity in the truck, so if you decide to purchase it at the end of the term, your payment will be lower. Otherwise, you can just transition into another lease. Stability and long-term financial growth are the takeaways here.

Finding the Right Truck Leasing Company

Once you've decided which kind of lease fits your goals, the next step is choosing the right truck leasing company — and this is critical. The company you lease with will have a direct impact on how successful you are, so look for a carrier that offers:

• Reliable, well-maintained equipment
• Consistent freight opportunities
• Competitive pay and incentive programs
• Transparent lease terms
• A reputation for honesty and respect

I hope this guide has been helpful for you, and I hope you refer back to it as you consider beginning your lease journey. We have plenty of other helpful insights in our Driver Learning Center, our Over the Road YouTube channel (seriously, check it out), and of course, right here in our St. Cloud, Minnesota office. Contact us anytime, and good luck!