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Lease vs Buy Calculator for Owner Operators

Compare the real cost of buying and lease-to-own, by cost per month, with the truck's resale value counted on both sides.

Buy Option

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Lease-to-Own Option

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Enter details for both options and click Compare

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Should I lease or buy a semi truck?

Leasing typically has a lower monthly payment and little or no down payment, but you may build no equity and may face mileage limits and excess-mileage fees. Buying has a higher monthly payment and often a down payment, but you keep the truck's resale value. Buying also lets you deduct the truck's cost faster, through depreciation or Section 179. That moves tax savings earlier, but it does not make the truck cost less over its life, and lease payments are deductible as you pay them. The right choice depends on your time horizon, your annual mileage and whether you value lower monthly cash outflow or long-term equity more.

  1. Compare the monthly payment for leasing versus buying the same truck, including any down payment required for the purchase.
  2. Check the lease's mileage allowance and excess-mileage rate, since running more than the included miles adds real cost.
  3. Estimate what the truck is worth at the end. For a purchase, that is the sale price. For a lease-to-own, it is what you own after paying the balloon. Both options get credit for it.
  4. Compare cost per month, not just total cost, when the loan and the lease run for different lengths.
  5. Treat Section 179 as tax timing, not a discount, and ask your accountant how depreciation and the lease payments apply to you.
Lease vs. buy, at a glance
FactorLeaseBuy
Monthly paymentTypically lowerTypically higher
Down paymentOften none or smallOften required
Equity at the endNoneResale or trade-in value
Mileage limitsCommon, with excess-mileage feesNone
Tax treatmentPayments deductible as paidCost deducted faster (depreciation or Section 179), which moves savings earlier but does not shrink the cost

Tax treatment of leases versus purchases depends on your specific situation and the lease structure, so confirm the Section 179 and depreciation treatment with your accountant before deciding based on tax savings alone.

Last reviewed October 2026. Sources: IRS Rev. Proc. 2025-32: 2026 Section 179 limit.

Frequently Asked Questions - Lease vs Buy Calculator

Should I lease or buy a semi-truck?
Buying tends to make more sense if you plan to keep the truck 5 or more years and want to build equity and lower long-term cost. Leasing tends to make more sense if you want newer equipment on a regular cycle, more predictable payments, or want to test owner-operator life before committing to ownership.
What are the advantages of leasing a truck?
Lower monthly payments than financing a purchase, maintenance or warranty coverage often included, the ability to upgrade to newer equipment every few years, and lower upfront cash needed to get started.
What are the downsides of leasing a truck?
You build no equity in the truck, lease agreements commonly include an annual mileage limit with charges for running over it, and wear-and-tear charges can apply when you return the truck. Total cost over several years is often higher than buying, since you never own the asset at the end.
Can I buy out a lease early?
Most commercial truck leases include a purchase option at a set residual value. Whether buying out early saves money depends on comparing the buyout price plus your remaining lease payments against the cost of financing a purchase or starting a new lease instead, so run both numbers before deciding.
Does Section 179 make buying cheaper than leasing?
Not by itself. Section 179 lets you deduct the truck in year one. That moves your tax savings earlier, but it does not make the truck cost less over its life. Lease payments are deductible as you pay them. If you sell a truck you deducted in full, the sale price is taxed as income. The calculator keeps Section 179 out of the costs and shows the tax timing apart. Ask your accountant about your case.
Why does the calculator compare cost per month?
Because a 60-month loan and a 36-month lease cover different lengths of time, so their total costs are not comparable. Cost per month puts them on the same footing. When both run for the same number of months, the calculator also shows the total difference.
What is a balloon payment on a truck lease?
It is a large final payment that lets you buy the truck when the lease ends. If you pay it, you own the truck, so the calculator credits the lease with the truck's value. If you hand the truck back instead, untick the box and no credit is given.

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Go Further With Lease vs Buy Calculator

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Terms explained in the Lease vs Buy Calculator