Best Truck Lease Deals [January 2021 Edition]
Truck sales are dragging and manufacturers are hungry to sell. This makes it a great time to buy or lease a new pickup truck.
Trucks are very capable and versatile with their high towing capacity and large bed/cargo space. Often overlooked, some trucks are available with high-end, luxury materials and the latest technology features.
Below we share our picks for the best truck lease offers this month.
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Not looking for a truck? We compile the best lease deals every month across all body types of vehicles including SUV’s, luxury cars, coupes, hatchbacks, and more.
Best Truck Lease Deals
Below is a list of some of the best lease deals on trucks right now. Manufacturers consistently put out attractive lease offers on their line of 2020 and 2021 pickup trucks.
#1 Deal: 2021 Toyota Tundra
Lease Deal: $339/month for 36 months, $2,999 due at signing
#2 Deal: 2020 Honda Ridgeline
Lease Deal: $329/month for 36 months, $2,999 due at signing
#3 Deal: 2021 Jeep Gladiator
Lease Deal: $277/month for 36 months, $3,995 due at signing
#4 Deal: 2021 Toyota Tacoma
Lease Deal: $199/month for 39 months, $2,999 due at signing
#5 Deal: 2021 Nissan Titan
Lease Deal: $399/month for 36 months, $3,999 due at signing
|2021||Toyota||Tundra||$339/month for 36 months, $2,999 due at signing||2/1/2021|
|2020||Honda||Ridgeline||$329/month for 36 months, $2,999 due at signing||3/1/2021|
|2021||Jeep||Gladiator||$277/month for 36 months, $3,995 due at signing||2/1/2021|
|2021||Toyota||Tacoma||$199/month for 39 months, $2,999 due at signing||2/1/2021|
|2021||Nissan||Titan||$399/month for 36 months, $3,999 due at signing||2/1/2021|
Considerations When Leasing a Truck
There’s a wide variety of truck types and features that will impact the sales price for your truck lease (the capitalized cost). The lower the cap cost, the lower your monthly payments.
Here are some considerations:
- The truck bed. A truck’s pickup bed separates its contents from the passengers. This is especially handy when carrying dirty items, like dirt, gravel, garbage, etc.
- Towing and hauling. Pickups are ideal for towing, and they offer high-torque engines that allow you to haul more.
- Fuel-efficiency. Trucks are gas guzzlers and as you increase size, fuel economy goes down.
- Driving comfort. Trucks provide ample legroom, which is ideal for taller drivers or those who drive long distances.
- Navigating snow. Trucks have additional clearance and often have four-wheel drive, which allows you to handle deep snow without an issue.
- Body type: Pickup trucks come in 3 main types based on the size of the passenger cabin: regular cab, extended cab, and crew cab. A regular cab has two doors and one row of seats with very limited space behind the seats. An extended cab has two doors and two rows of seating, but the second row is smaller and provides limited legroom. And a crew cab has four doors and a spacious second row.
- Midsize pickup trucks: Starting in the mid $20,000 range, midsize pickups are smaller pickups that are great for daily driving but still provide the capability for hauling, towing, and off-roading when necessary. Most come in two-wheel and four-wheel drive configurations and have a towing capacity of 5,000 to 7,000 pounds.
- Full-size pickup trucks: These trucks start in the mid $30,000 range. They are raised higher off the ground and include a large passenger area. They have four-wheel or all-wheel drive that can navigate the most difficult terrain. They offer an average towing capacity of 10,000 to 13,000 pounds.
- Heavy-duty pickup trucks: These are ideal for those with extensive towing needs. If you own a boat, RV, or outdoor riding equipment then this may be the one for you. Similar in size to full-sized trucks, heavy-duty trucks can tow 17,000 to 37,000 pounds. They begin in the $40,000 to $50,000 range.
Is it a business or personal use truck?
If you are planning to use the truck for commercial purposes like construction, landscaping, delivery, or utility work, you are likely to gain a tax benefit from leasing. However, if it is a mixed use vehicle, only the business driving portion of your vehicle will count in the eyes of the IRS.
Be sure to talk to your accountant to see if you qualify for a tax write-off from your truck lease, maintenance, or operational costs.
Frequently Asked Questions
Is it cheaper to lease a car or truck?
Truck payments can actually be cheaper than payments on a car selling at the same price. This is because trucks typically have higher residual values which result in lower lease payments for you.
Is leasing a truck a good idea?
Leasing in general depends on a variety of factors. Read about whether it is better to lease or buy. One consideration for pick-up trucks is how much utility or off-road use you expect because you may have to pay for damages beyond normal wear and tear at the end of the lease.
Can you modify a leased truck?
Yes, you can modify a leased truck. However, it’s not a good idea because you’ll have to return it to factory condition (without modifications) at the end of your lease unless you decide to buyout the lease and keep the truck.
How do I lease a truck for my business?
There are two main leasing options if you will use your truck for business purposes. You can simply get a normal truck lease from a dealer and ask your accountant to help you treat it as a business expense. Or, you can get a commercial truck lease from a fleet manager which is often done if you are leasing more than one truck. See the latest list of fleet discounts across all car brands.
Can you negotiate a truck lease?
Yes, you can negotiate a truck lease the same way you would negotiate a car lease. First negotiate the price of the truck as if you were buying and ask to use that as your capitalized cost. Learn how to negotiate a truck lease.