Penske Truck Lease Guide

Thinking about leasing a Penske truck? Here’s everything you need to know and then some!

Penske Truck Services

Penske truck services rent out trucks to people who need to relocate and want to move their own belongings. Penske truck services is a joint venture between Penske Truck Leasing and Mitsui & Company. Penske maintains locations throughout the United States and Canada. Potential customers can use this online lookup tool to find them.

In some cities, there may be more than one location depending on average volume and sprawl or size. Penske truck services offer several different sizes of moving vans and trucks based on customers’ moving needs. The various sizes include cargo vans, and 12-foot, 16-foot, 22-foot, and 26-foot moving trucks.

In addition to moving trucks, Penske offers the following services:

• Dolly and hand truck rentals
• Moving supplies, including boxes
• Storage space rentals
• Car or vehicle towing equipment
• Commercial fleet leasing

Penske also has partnerships with The Home Depot, Shell gas stations, Quicken Loans, and Best Western hotels. These partnerships give Penske customers discounts on services like mortgages and overnight stays while traveling.

How Does Penske Truck Leasing Work?

While Penske truck services offer one-way truck rentals for end consumers, the company also offers commercial truck leasing. One-way truck rentals are temporary rental agreements where a customer agrees to rent a moving truck for a fixed period. Say you’re moving from Florida to Colorado. You rent a Penske and pick it up at a Florida location.

Your rental agreement gives you a week to make it from Florida to your destination in Colorado. The rental agreement specifies a return location and date. After packing up your belongings, you drive the truck across the country. In Colorado, you unload the truck and fill the tank back up with fuel before returning it. Your rental agreement is fulfilled at this point.

But with fleet or truck leasing, businesses can enter full-service, long-term agreements. Companies use Penske commercial trucks instead of buying separate fleet vehicles. Penske provides 24/7 roadside assistance and fueling stations. Penske also helps maintain and manage the vehicles, removing this burden and expense.

Penske Truck Leasing Requirements

Personal truck rental requirements are different from fleet leasing stipulations. For a personal truck rental, drivers need to be at least 18 years old. The renter also has to provide two forms of documentation, such as a driver’s license and a utility bill. While the person that signs the agreement can drive the truck, they can add additional drivers.

Up to three additional drivers can be on the rental agreement. However, there is an extra $10 fee per person. Additional drivers also have to provide two forms of identification. Family members of the primary driver are included as drivers without an extra fee.

Penske does not permit the towing of any personal trailers or non-Penske equipment. While you can rent a car carrier, this is the only authorized equipment to hitch to the back of a Penske moving truck. In addition, your vehicle must meet Penske’s requirements. Those stipulations include vehicle weight, width, tire size, and driveshaft specifications.

Penske commercial leasing agreements have additional requirements for drivers. Some of the trucks require a CDL or commercial driver’s license. Companies that enter into commercial truck leasing agreements may supply proof of this. Employees that drive the trucks submit their CDL documentation to their employers instead of Penske.

Penske Truck Leasing Programs

On Penske’s website, there is a Discounts section. This section lists the various truck leasing programs and available specials. Some of these discounts include

• Unlimited free mileage. Normally, Penske truck rentals bill for the miles you’ll travel from your pickup to the dropoff location.
• Percentage discounts on your rental fee.
• Credits toward fuel costs.
• Discounts on towing equipment for your personal vehicle.
• Savings for college students, members of the Armed Forces, and AAA members.

Some local rental locations also offer special rate discounts under unique circumstances. For example, you might agree to drop off your truck rental at one location. However, a different location needs the truck dropped off there due to an incoming rental request. For the inconvenience, the location may offer to take off an agreed-upon amount.

How Much Is It to Lease a Penske Truck?

The cost of leasing a Penske truck depends on your move and the truck size. It also depends on what additional supplies and equipment you request, such as vehicle towing equipment. Naturally, larger trucks and long-distance moves typically cost more. Adding moving boxes and a dolly or hand truck adds to your costs.

However, typical daily rates range from $130 to $1,200. You will also have to pay taxes and additional fees, such as an environmental fee and mileage. One-way moves usually come with unlimited mileage. Round-trip moves, on the other hand, can cost up to $0.99 a mile.

Although most people will know whether they need a one-way or round-trip rental, most will have questions about what size truck to get. Here is a table that breaks down the various features and accommodations of each truck size.

	Cargo Van	12-Foot Truck	16-Foot Truck	22-Foot Truck	26-Foot Truck
Capacity	Up to 1 room capacity	1-2 room capacity	Fits 2-3 rooms of belongings	3-5 room capacity	Fits 5-7 rooms
Round trip or one way	Round-trip rentals only	Round-trip and one-way rentals	Round-trip and one-way rentals	One-way rentals only	Round-trip and one-way rentals
Seats	Seats 2	Seats 2	Seats 2	Seats 3	Seats 3
Mpg	Up to 12 mpg	Up to 12 mpg	Up to 12 mpg	Up to 13 mpg	Up to 13 mpg
Loading capacity	3,500 lbs	3,100 lbs	4,300 lbs	10,000 lbs	10,000 lbs l
Loading space	404 cubic feet loading space	450 cubic feet loading space	800 cubic feet loading space	1,200 cubic feet loading space	1,700 cubic feet loading space
Floor space	53 square feet of floor space	78 square feet of floor space	120 square feet of floor space	164 square feet of floor space	192 square feet of floor space

 

If you have a small studio apartment, you may be able to get away with a cargo van. Belongings from a one-bedroom apartment or condo should fit into a 12-foot truck. However, larger condos or homes will need at least a 16-foot truck. If you’ve lived in your home for a while and have accumulated a lot of stuff, a 22-foot truck will give you just enough space.

Does Penske Have Payment Plans?

For rentals, Penske requires a credit card to secure the reservation. Full payment is due when you pick up your truck. You can charge the credit card used to secure the reservation or use a different payment method. For instance, you can use a different card, present a cashier’s check, or pay with cash.

However, if your rental charges exceed $5,000, you’ll have to pay with two forms. Individual payments cannot exceed $5,000. Now, if you’re buying a used truck from Penske, financing and payment plans are available. The company offers financing for well-qualified customers with zero down, 90-day deferrals, and 60-month payment plans. 

Is It Better to Lease or Buy a Truck?

For many individuals and companies, there are advantages to leasing a truck versus buying one. You don’t have to worry about maintenance costs, licensing and property taxes, or storage expenses. Penske offers 24/7 roadside assistance and has newer trucks compared to the competition.

Penske’s fleet includes over 98,000 vehicles, and the company also offers additional services, such as half-day rentals and unlimited mileage for one-way moves. Some of Penske’s policies are also more flexible than the competition. You can modify your truck size and add additional days to your agreement. Likewise, you can remove those additional days for a refund.

You can go online to make a reservation or call 1-844-847-9577 to walk through your plans with a live rep. While each Penske rental location will have separate online reviews, you can read through customer reviews from around the country.  

FAQs

Here are the answers to the most frequently answered questions about Penske truck rentals.

How does Penske logistics tracking work?

Commercial customers benefit from Penske’s Clear Chain technology by viewing what’s going on with their supply chains. Penske logistics tracking shows what supplies are moving, including part numbers. Commercial customers also see real-time shipping information.

Where is Penske truck leasing headquarters?

Penske truck leasing headquarters are located in Reading, Pennsylvania. The address is North Building, 100 Gundy Drive, Reading, PA 19607.

When is a good time to lease a truck?

Most people agree that summer is the best time to lease a truck for moving purposes. However, you might be able to get a better deal during off-seasons, including the winter months.

Why should you choose a full-service lease?

Convenience is the best reason to choose a full-service lease. You don’t have to worry about breakdowns, finding fuel, or anything related to the truck’s performance.