Ryder box truck leasing costs from around $1,150 to over $2700 per month; however, note that this will vary depending on the box truck model, its size, configuration, and location.
For example, if you are looking to lease a brand new International DuraStar 4300 4×2 or Freightliner M2 106 6×4 in Chicago, you will have to monthly leasing (3 to 5 years based) rates of around $2500 – $2700. Note that this includes the full warranty as all brand new trucks come with it anyway.
Established as a viable delivery company by James Ryder in the year 1993, the company started with only one truck in Miami, Florida. However, owing to the fast-paced development in the commercial trucking sector in the United States, Ryder witnessed massive growth as rail transports were being replaced.
Over time, James Ryder started to adjust the main focus of the company from distribution to leasing, and by the year 1940, the company could already boast of more than 50 trucks. However, note that aside from the cost noted above, anyone looking to lease a box truck from Ryder will also have to consider their maintenance plan, and sometimes, there is some maintenance plan even included in the lease price.
Also, note that the price noted above is just for the truck head and the trailer is not included in this. You will have to invest around $550 – $600 monthly for the trailer, which more or less takes the cost to almost $3000.
In addition, note that engine configuration, equipment, leasing duration, maintenance plan (full or partial), and the number of units you want to lease will also influence your cost. Also, don’t forget that in most situations the real and advertised costs are not the same.
Owing to that, it is very important to reach out to the company to ask what is the total cost and what will be included in the monthly payment fee that is advertised. Note that some of the costs that are most often not included in the monthly payment fee are;
- Down payment is required for every truck
- Approval fees or agent fees
- Certain insurance fees and expenses
- Closing fees
- Additional vehicle equipment
How to Apply for Ryder Box Truck Leasing
Ryder Rental is renowned as one of the oldest trucking companies in the United States and they have been operating in the country for quite some time.
Note that the company has officially been around for eight decades and focuses on renting trucks and vans for relocation from its more than 500 locations spread across the United States and Canada. While they also offer truck leasing services, if you are interested, here are the necessary steps to help you apply.
1. Analyze your finances
It is important you first take a very detailed and concise look into the state of your finances and also analyze the best box truck leasing program for you. It is also recommended you conduct this exercise before you even start shopping for box trucks with Ryder.
2. Organize your paperwork
- This is another vital step and any atom mistake could mean your application being denied. Therefore, invest time to first understand the requirements stipulated by Ryder and also understand the documents you need to present. You may be expected to show proof of business paperwork coupled with papers that buttress your ability and credibility to offset the lease when the time comes.
3. Visit Ryder Website
To apply for a Ryder box truck lease, you will have to visit Ryder’s business site to complete their request form. Note that staff will reach out to you within 24 to 48 hours. You can also contact a Ryder representative on this line at 1-855-785-5671 to lease a unit
4. Choose the box truck
This is the point where you have to pick the exact box truck you want. Ensure to note your budget, your location, your needs, and the different offers provided by Ryder before you make your choice.
5. Choose the type of financing you want
When you choose Ryder commercial truck leasing, you can choose the type of financing that suits your business needs. Most times, Ryder does not carry out a credit check for the box truck leasing. Howbeit, your credit has to be good to ensure that you can pay off your lease fee in the long run.
Pros and Cons of Using Ryder
Ryder truck rental remains popular and an undisputed choice among its loyal clients even though it is a little bit unpopular, especially when compared to some truck rental companies. Howbeit, same as with every other company in the industry, Ryder also has its own pros and cons as applicable to each customer. Nonetheless, below are the pros and cons of using Ryder:
- Affordable rental costs
- Numerous locations countrywide
- They will carry out all manufacturers’ required service checks and parts replacements.
- Convenient booking and drop-off processes
- Plenty truck options
- Refrigerated truck rental option
- All trucks have liftgates
- No one-way truck rentals with different place drop-offs
- In some cases, they will ask for some down payment because you are a new customer for them.
- Failure to prioritize the needs of customers because the company is mass.
- Limit the maximum number of trucks allowed to lease.
- A maintenance plan hides a lot of hidden costs
Terms and Conditions for Ryder Box Truck Lease
To lease a box truck from Ryder, outlined below are the terms and conditions you are expected to comply with;
- Drivers are required to be 21 years old (can be 18 years in MI and NY, which will attract an additional fee).
- Also, note that Ryder boasts of various requirements for varying Ryder financing options. According to reports, the most important requirement is that you will need to make a deposit. The deposit structure will depend on what you want to purchase or lease.
- Your business will need to be more than two years old and also show a good credit score, at least 600 or above for the best box truck financing rates.
Generally speaking, getting a Ryder Truck Leasing is a great move. Note that they will offer you one of the most flexible leasing options in the industry, with capital or operating lease types known to include Fair Market Value, Tax Advantage Solutions, and Flex Trac, which comes with an option to buy at a pre-determined price.
Also note that you get the leverage to select the length of your lease, with short, medium, or long-term leases ranging between one and ten years in length. However, always remember to ask questions in advance. Note that some creativity from the Ryder sales rep could end up costing you thousands of dollars.