The cost of a rental truck can quickly rise when you consider the many expenses that come with leasing a vehicle.
For example, an electric truck can run up to $5,000 per month, according to the Electric Vehicle Alliance.
And while leasing an SUV or a pickup is more affordable, the cost of leasing an electric vehicle can jump to over $20,000 when you factor in the cost to operate, maintain and maintain a battery pack.
Losing a truck can be costly, too.
“If you lose a truck, you lose everything, and it can cost $10,000 or $15,000 to replace the truck,” said Mike O’Brien, a trucker with more than 40 years of experience in the industry.
“That’s the most expensive part of it.”
The truck rental industry is also not immune to high fuel prices.
A vehicle can run $2,500 to $3,000 more than what it was originally advertised on the rental market.
That is why many companies are offering a rebate to consumers for purchasing a vehicle that is not currently on the market.
A typical $30 rebate is enough to make up for a $25 loss on a rental, O’Briens said.
For a more affordable vehicle, the company is offering a $30 monthly rebate to customers who lease an electric or hybrid truck.
For that rebate, the vehicle will not be on the resale market until it is returned to the leasing company, which can take up to six months, according with the lease company.
In order to qualify for a rebate, a vehicle must be at least three years old and the vehicle must have a minimum of 15,000 miles on the odometer.
The leasing company also has to show that the vehicle meets the manufacturer’s vehicle specifications, and the company must have an online lease agreement in place to qualify.
If the leasing companies is unable to find a vehicle to lease, customers can apply to have it inspected.
O’Reilly said that, in order to have the vehicle inspected, customers should make sure that the truck is in a clean condition and that the trailer hitch is in good working order.
If a vehicle is not in the shop, O`Reilly said it can take several weeks to get the vehicle back in the mail.
O`Brien said that he is seeing more and more truck owners who are looking for a new truck.
“I see more and better companies offering a truck lease, which is something I like,” he said.
“It is not too expensive and there are better options available to people.”
O’Mara is a business owner in Columbus, Ohio.
Follow him on Twitter @davemike.