Leasing or owning a tractor-trailer is a goal of many truck drivers; however, if you have poor credit history, getting approved can prove challenging. Fortunately, several carriers offer lease and lease-to-own options for semis that don’t require a credit check. We have the list of carriers below that offer semitruck leasing programs with no credit check required, as well as other information about the lease terms.
What to Know Before Leasing a Semitruck
Before you lease a semitruck, you may want to compare carriers and leasing companies to find the best option for your situation. You can talk to other drivers and search for testimonials and reviews online to get a sense of what you can expect from each company.
Once you find a carrier, you should make a detailed budget to ensure that the lease makes financial sense. You’ll need to include costs like your lease payment, fuel, maintenance, licensing, and permits. In addition to the lease payment, check with the carrier to see if it expects you to make a down payment, get your own insurance, contribute to a maintenance fund, pay for excess mileage, or cover other costs. You should also consider things like health insurance (if you’ll be operating independently), administrative expenses (like filing your own taxes), cellular service, workman’s compensation insurance, legal fees, and weight tickets. Calculating and running all the numbers will help you get a sense of whether or not you’ll be able to meet your income goals through a lease program.
Also, be sure to read the fine print before signing any contract. Check for things like mileage limits, whether your lease has a “walk away” policy, and under what conditions you’ll be able to access repair money.
We’ve Done the Comparing for You — Here’s What We Recommend
For a semitruck leasing option with no credit check, no mileage limitations, flexible payment terms, and the opportunity to drive with any carrier in the U.S., consider leasing through LRM Leasing. The company also has consistently positive reviews on Consumer Affairs. Another good leasing option with positive ratings is Trust Alliance Capital, which offers repayment periods up to five years.
Semitruck Leasing Programs: No Credit Check Required
The following semitruck leasing programs do not require a credit check; we’ve ordered the list below starting with the best overall options.
- Lease terms: Lease and finance options with no credit check and no mileage limitations. You can work with any carrier in the U.S.
- Payment terms: Vary by agreement, and you own the truck after you make your final payment
- Company reviews: LRM Leasing has a rating of 4.9 out of five stars on Consumer Affairs, and it is a Consumer Affairs accredited brand.
- Find out more and apply
Trust Alliance Capital
- Lease terms: Lease and other finance/loan options with no credit check. Financing available up to $400,000.
- Payment terms: Vary by agreement; repayment periods can be up to 60 months
- Company reviews: Trust Alliance Capital is a Better Business Bureau accredited business with an A+ rating.
- Find out more and apply, or call (800) 763-2810 ext. 100
Contract Transport Services
- Lease terms: Lease-to-purchase program with a 30-day warranty, as well as fuel discounts and incentives.
- Payment terms: Vary by agreement; you do not need to put money down, and there is no large end-of-lease payment.
- Company reviews: Contract Transport Services is not yet rated or accredited by the Better Business Bureau.
- To apply with Contract Transport Services, call (800) 709-1815 or email firstname.lastname@example.org
- Lease terms: Qualification is based on your motor vehicle record (MVR) and pre-employment screening (PSP). There is an option to walk away from the lease at any time.
- Payment terms: Weekly lease payments of $525 for three years. Weekly maintenance escrow charges start at $50 and continue until a $5,000 balance is reached
- Company reviews: CMT Transportation has an average of four out of five stars on employee review sites like Indeed.
- Find out more or apply
ATS (Anderson Trucking Service)
- Lease terms: One-year lease-purchase program on select vehicles, but you must sign on as an owner-operator with ATS.
- Payment terms: You do not need to put money down, and payments start at $325 per week.
- Company reviews: ATS has an average rating of 3.5 out of five stars on employee review sites like Indeed and Glassdoor.
- Find out more and apply, or call (800) 343-8787
- Lease terms: Must sign on to drive with Risinger; lease-purchase drivers are eligible for bonuses and other perks. Qualification is based on your motor vehicle record (MVR), a pre-employment screening program (PSP), and inspection points
- Payment terms: Weekly lease payments from $399 to $599; at the end of the term, you’ll owe the difference between the fair market value of the truck and the total principal paid (you can finance this amount in-house or through a third party)
- Company reviews: Risinger has an average rating of 3.4 out of five stars on employee review sites like Indeed.
- Find out more or apply
- Lease terms: Lease and finance options up to $400,000 with repayment terms up to 48 months; there is a purchase option available at the end of your lease.
- Payment terms: 10% to 15% security deposit required for leases; 25% to 50% down payment required for purchases
- Company reviews: Perry Funding has an A+ rating from the Better Business Bureau, but it is not accredited.
- To apply with Perry Funding, call (301) 791-0707
If you’re hoping to lease or own a semi but your credit history isn’t fantastic, there are several semitruck leasing companies that do not require a credit check. LRM Leasing offers flexible terms and allows you to drive with any U.S. carrier, and Trust Capital Alliance offers lease terms up to five years. Both of these companies also come with positive employee and consumer reviews. Before signing any lease agreement, be sure to understand the full terms of the lease so you can be prepared for any associated down payments, fees, insurance requirements, and payoff options.
Interested in other ways to further your career as a driver? See our article on large trucking companies that offer company-paid CDL training.