Penske Announces Fleet Upgrade Leasing Program

Penske said selling an existing fleet eliminates carrying costs, which frees up capital for the business. (Penske Truck Leasing)

[Stay on top of transportation news: Get TTNews in your inbox.]

Penske Truck Leasing launched a program that lets carriers sell their old trucks so they can lease a new one, the company announced Dec. 7.

Through Sell2Lease, Penske promises to buy the old trucks with no exceptions, including age or condition. The carriers will then have the ability to lease new top-of-the-line trucks. Penske said it allows businesses to free up capital and make the move toward leasing.

“We buy your used trucks — no exceptions,” Jim Lager, senior vice president of sales at Penske Truck Leasing, said in a statement. “This program gives truck fleets the opportunity to take advantage of the benefits of leasing with Penske, like custom specs, comprehensive preventive maintenance, 24/7 roadside assistance, quick access to rental trucks at preferred rates, vehicle licensing, permits, tax reporting and regulatory compliance.”

#Penske Truck Leasing offers businesses deal to upgrade fleet for the New Year: https://t.co/TgbKu4NcFp. #Sell2Lease #TruckLeasing #Transportation — Penske Transportation Solutions (@PenskeNews) December 7, 2020

Penske said selling an existing fleet eliminates carrying costs, which frees up capital for the business. The company also promises to present a fair and competitive offer that makes sense for the business. Carriers also have the chance to save money since they won’t have to advertise the truck or refurbish it prior to sale.

Penske Logistics ranks No. 15 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. It also ranks No. 8 on the Transport Topics Top 50 list of the largest logistics companies. — Transport Topics

Want more news? Listen to today's daily briefing: