Truck Lease Agreement Template

A truck lease agreement is a legal document established between a truck lessor (the owner) and a truck lessee (driver) outlining their rights, responsibilities, liabilities, and expectations regarding the truck․ Our template is designed to prevent disputes, protect the asset, and clarify the obligations of each party․

Key highlights:

• Proven agreement template for commercial and solo-use truck leases.
• Identifies truck and lease parties with lease term, delivery, and return conditions
• Establishes payment terms, security deposits, and fees
• Allocates insurance responsibilities and liability coverage
• Details permitted use and prohibited activities for truck lease

This truck lease sample is widely used in truck leasing transactions and protects both commercial and consumer lessors․ You can download a Word or PDF sample, tailor it to your transaction and sign it online․

Who it’s for

Whenever you offer a truck to another person or entity (lessee) to be used for business or personal use, protecting your interests and vehicle makes sense This truck lease agreement template is suitable for:

• Owner-operators leasing trucks to drivers
• Leasing of vehicles by small/medium trucking companies
• Equipment rental companies with trucks
• Independent ‌contractors who lease vehicles from fleet owners
• Businesses renting trucks for logistics, deliveries ‌or projects

For short-term car rentals or informal arrangements, consider a simpler Car Rental Agreement template.

When to use this template

If you are leasing a commercial truck for long-term business use, working with independent drivers on leased trucks, or providing trucks to subsidiaries/contractors, use this truck lease agreement template․

This truck lease form is particularly helpful when:

• The truck will regularly cross state lines or be used for long-haul purposes․
• You have to manage mileage limits, fuel usage, or running costs for your truck lease.

The written lease protects the equipment of the lessor, and gives the lessee clear expectations of how they can use the equipment and its costs․

What’s included in the Truck Lease Agreement Sample

This truck lease agreement template covers the clauses usually used in vehicle lease contracts, yet adapted to narrow truck use case:

Parties and truck details

Lessor and lessee names, addresses and phone numbers, truck make, model, year, VIN, registration/plate, trailer ID, USDOT/MC number (if applicable), telematics unit ID number (if applicable), safety technology in use (if applicable) including ELD, dashcams and speed limiters․ Accurate identification avoids disputes over which vehicle is included in the lease agreement․

Lease term and delivery

Includes the start and end dates of the lease, delivery location for the equipment, acceptance of the equipment and return conditions․ For commercial fleets, add in-service date, temporary replacement vehicles and out-of-service procedures․

Payment terms

Above standard lease payments (weekly, monthly, or by mile), security deposit, payment schedule, and payment method, the truck lease agreement should include:

• Variable components (per-mile maintenance reserves, tire or PM escrow, etc․)
• Fuel surcharge pass-throughs (if ‌linked to an index)
• Telematics-enabled ‌mileage verification
• Late fees, ‌cure periods, right to suspend service, interest on debt

Insurance and liability

It allocates the liability, collision, and thorough insurance․ This is industry best practice for truck leases․

• Additional insured and loss payee listed as the lessor
• Set minimum auto liability limits based on operations and cargo
• If applicable, MCS-90 endorsement of any regulated carriers

Use restrictions

This clause defines permitted and prohibited uses. For trucking lease agreement such clauses as geographic and hauling restrictions are vital․ Additionally, your agreement may state here:

• Prohibitions against transporting hazardous materials without permission and coverage documentation
• Geographic limits (e․g․ by state or continental U․S), border-crossing approvals, and toll transponder responsibilities․
• No sublease or assignment of vehicle, no unauthorized driver, have qualified CDL driver behind the wheel, and comply with hours of service․
• Ban tampering with ELDs, GPS, ‌truck dashcams, telematics systems

Maintenance and repairs

It specifies who is responsible for upkeep and repairs, and at whose expense, for preserving the value of the asset․

Fuel and mileage

Include details around fuel responsibility, mileage tracking, and potential penalties when exceeding mileage limits. Truck leases often also see too:

Fuel card programs, misuse liabilities, reconciliation process Odometer/ECM readings, prohibition on tampering with them, and audit rights

Damage and accidents

Outlines how to report an accident, repair costs and deductibles, and the insurance company's requirements and cooperation․

Standard clauses for typical vehicle leases are also in place:

• Default and remedies
• Termination and repossession
• Governing law and dispute resolution

Each clause is specific, precise, and worded in a way that make is easy for you to adapt the truck lease agreement template to your case without a lawyer needed․

How to write your Truck Lease Agreement

Follow our sample on how to amend the truck lease agreement to reflect your business terms and legal requirements․

1. Identify the truck and document condition

Document the make, model, year, VIN, license plate and current odometer reading․ The vehicle should be jointly inspected prior to delivery with a condition report provided․ For trucks with trailers or special equipment, attach details and inspection checklists․ Take photos inside and out, note aftermarket equipment and damage, and require return in similar condition. Normal wear is fine․

2. State the lease term and delivery

If leasing, find out whether the lease will renew automatically unless you send a non-renewal notice, when rent is due (on delivery/acceptance), whether rent is prorated, and whether there are steps to follow if your lease term ends while the truck is out of service․

3. Structure payment terms

Set out how lease payments will be made․ Commercial leases often allow the risk to be managed with prepayments or escrow․

4. Set insurance responsibilities with precision

Insurance is the most important risk allocation aspect of truck leases․ Require:

• Minimum liability, collision and thorough coverage
• Insurance must be proved pre-delivery
• Notification of policy changes required

5. Define permissible use and geographic limits

This clause may be tailored to fit your operations․ Our truck lease agreement template incudes basic restrictions:

• No hauling hazardous materials without written consent
• Geographic limitations ‌(e․g․, only within continental U․S․ or certain states)

Determine whether the truck will be crossing state borders․ If so, it must comply with federal and state commercial vehicle regulations, including vehicle weight limits, axle load limits, seasonal restrictions, permits/oversized loads, and active IFTA/IRP apportioned plates and operating authority, if ‌required․

6. Assign maintenance obligations

Incorporate maintenance history from lessee to minimize disputes and ensure compliance audits can be performed․ Include inspection schedules, defect reporting, ‌manufacturer recalls, OEM fluid/filter standards, and downtime notice timelines․

7. Clarify fuel and mileage policies

Specify who refuels the car and how mileage will be tracked if the lease is per mile․

If fuel cards are used, authorized drivers, disallowed purchases, fraud liability, any reconciliation or audit rights, idling/fuel usage expectations, and penalties for odometer/ECM tampering should be defined in the contract․

8. Review standard clauses (which you may keep as is):

• How to address accidents and damage procedures
• Detail default, termination, and repossession rights
• Noticies

9. Insert governing law and venue

Always designate the state law governing the lease of the truck and the venue where disputes are to be resolved․ For interstate fleets, use master lease language with schedules for each unit and a designated venue

10. Finalize and sign

Complete all exhibits (vehicle schedule, checklist for inspection and delivery, insurance certificates, maintenance plan), and obtain signatures online via CreateMySignature platform or in writing by printing out the PDF on each page․