According to reports, it cost around $1,000 to lease a Penske box truck and customers consider this price very affordable, especially when compared to other companies in the market. Note that the Penske box truck lease does not call for any down payment and they offer monthly lease payments.
These monthly lease rates include maintenance and upkeep costs, and you will have no residual risk at the end of your lease as Penske will handle the vehicle disposal, preferably low-mileage vehicles.
Headquartered in Reading, Pennsylvania, Penske is renowned as a top global transportation service provider that operates more than 350,000 vehicles and serves customers from more than 1,300 locations in North America, South America, Australia, and Asia.
Their product lines include full-service truck leasing, contract, maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management, and supply chain management solutions.
The full-service lease with Penske remains one of the best in the market and the company takes out time to carry out a careful inventory of the purpose of your use. From the info obtained during this inventory, Penske will provide you with the appropriate equipment, services, information, and tools to help your lease run seamlessly.
Aside from protecting the leased truck, Penske strives to ensure that your business flourishes by providing all you need while also ensuring you spend as little as possible. Penske lease program also offers you complete preventive maintenance for your truck.
They also align with Original Equipment Manufacturers (OEMs) to guarantee that your repair process is not repeated because of a wrong or faulty spare part repair or replacement. Penske lease seeks to be the best in the game and to do that, they have to move with the best manufacturers.
How to Apply for Penske Box Truck Lease
Penske remains one of the best choices when seeking to launch or continue your career. Have it in mind they are a dynamic growth company with a 50-plus-year history of success that is built upon a foundation of taking great care of their customers and drivers. If you are looking to apply for a box truck lease with the company, here are steps to take;
- Consider your finances
The very first thing to do is to analyze your financial situation to understand if you can afford to work with this lease program. It is recommended that you carry out this exercise before you even start shopping for box trucks.
- Meet the eligibility criteria and arrange your paperwork
It is imperative to be sure you meet all criteria noted by Penske. You will be expected to be at least 21 years old and also have a CDL. Also, you may be expected to show proof of business paperwork coupled with papers that buttress your ability to offset the lease when the time comes.
- Visit Penske Website
To apply for a Penske box truck lease, you have to either visit the Penske business site to complete their request form, email the company or visit Penske Truck Leasing Corporate Sales Office at Route 10 Green Hills Reading, PA 19603, USA. You can also contact a Penske representative on this line at 866-999-9504 to lease a unit.
- Choose the box truck
This is the point where you have to pick the exact box truck you want. Note that the company will get involved by carrying out a careful inventory of the purpose of your use. From the info obtained from this inventory, Penske will hand over to you the appropriate equipment, services, information, and tools to help your lease run seamlessly.
- Choose the type of financing you want
When you choose to work with Penske, you will be expected to choose the type of financing that suits your business needs. Penske partners with Premier Financing to offer the most competitive used truck financing in the industry, no matter your credit situation.
Pros and Cons of Using Penske
Note that both purchasing and leasing a truck have their pros and cons. However, working with a tried and tested truck rental company like Penske will ensure the pros outweighs the cons. Nonetheless, here are notable pros and cons of using Penske.
- Improved finances
You will benefit from getting equipment without having to put in an upfront payment. With Penske, all the cost constraints that come with ownership are often eliminated with leasing, accompanied by low rates. You also get to enjoy 100% tax deductibility.
- No hidden cost
Note that costs associated with owning a truck include truck drivers and vehicle downtime, missed deliveries, substitute vehicles, and administrative duties. Penske helps to eliminate all these challenges as they will shoulder them for you.
- Little maintenance and repair cost
Maintenance and repair are part and parcel of Penske’s full-service lease, and this addition helps you eliminate unwanted expenses. Penske runs a preventive maintenance schedule on their trucks, and as a result, these trucks are hardly faulty, plus they are mostly low mileage.
- Helps you focus
Since almost every task concerning the fleet rests on Penske, you won’t have to bother about any of these. Owing to that, you can focus better on your business and improve it without worrying too much about the fleet.
- Your fleet stays up-to-date
Leasing with Penske ensures your truck fleet stays up-to-date by running late-model equipment alongside the newest safety and driver comfort features. These additions and improvements to your fleet attract the best truck drivers and help you retain them.
- Access to new technology: Penske will always provide you with recent upgrades and innovations, ensuring you stay on top of things.
- Not as many locations as competitors like U-Haul.
- Penske has a smaller fleet of trucks compared to its competitors.
Terms and Conditions of Penske Box Truck Lease
Being one of the best options in the market, here are the terms and conditions they offer to willing drivers.
- Drivers are expected to be 21 years old (can be 18 years in MI and NY, which will attract an additional fee).
- Penske offers you a fixed monthly payment that helps you plan and budget adequately.
- No down payment is required to lease a truck,
- Penske handles vehicle disposal, and this means you will have no residual risk at the end of the lease
- A single monthly lease that comes with maintenance and upkeep costs
- 24/7 roadside assistance
- Centralized access to fleet information through Fleet insight
Penske leasing services are designed to meet the varying needs of drivers and also do away with the stress of ownership. Have it in mind that their leasing structure is reliable and flexible. Working with Penske also helps to reduce the cost of maintenance, replacement, and repair of your box truck. It is genuinely one of the best options to consider if you are eager to spend wisely.