However, since private fleets operate in a less hostile environment than rental fleets, the rental and leasing options for these fleets are not as limited.
“Many leasing and rental customers have traditionally been private fleets that are not necessarily tied to the cycles of the general freight environment,” explained Mercier.
Interest in pilot projects for electric and autonomous vehicles
Alternative fuel and autonomous vehicle technologies are on the rise. Fleets interested in these new technologies can find a promising opportunity through renting or leasing: pilots.
“At this stage of the evolution to alternative fuels, companies are looking for pilot projects,” Benton told FleetOwner. “Instead of just jumping in with both feet, they want to test certain different types of equipment and alternative fuels in different markets – and that makes leasing and renting more attractive.”
According to Mercier, leasing and rental can help reduce the costs associated with fleet electrification, such as maintenance and charging support.
“We continue to see interest from our customers in leasing or renting electric vehicles,” Mercier said. “Many of them are just beginning to learn about these products, and by using a leasing or rental platform, they can alleviate many of the potential concerns.”
The pre-purchase 2027
Starting with the 2027 model year, trucks will have to comply with some of the strictest emissions regulations to date.
“As regulations change and become more stringent, new equipment is available and fleets are encouraged to adopt it,” Benton explained.
The California Air Resources Board’s NOx reduction guidelines and the U.S. Environmental Protection Agency’s final Phase 3 greenhouse gas emission standards will prompt tractor manufacturers to implement stronger exhaust aftertreatment systems and more efficient engine designs.
Higher cost
Although these cleaner tractors are affordable, their price will be significantly higher than previous models.
“To meet 2027 emissions regulations, additional technologies and components will be added to the units, which may impact price and maintenance requirements,” Mercier said.
Industry experts predict significant cost increases for both the purchase and maintenance of these cleaner vehicles.
“Equipment is expected to cost between $25,000 and $30,000 more in ’27 than it does today,” Benton said.
Plan your pre-purchase in advance
This looming increase in equipment acquisition costs is causing many fleets to purchase trucks that comply with current regulations.
“We anticipate a potential pre-purchase beginning sometime in 2025 and running through 2026,” Mercier said.
This pre-purchase approach could put a strain on the supply of new vehicles until 2027.
“Companies will try to pull back a lot of these replacements and avoid 2027,” Benton said. “That will potentially lead to another situation where we have to rely on allocation.”
As companies rush to buy new equipment before new emissions standards take effect, manufacturers may not be able to produce enough trucks to meet demand. That means leasing and rental car companies may also not have enough vehicles to meet customer demand.
“In fact, it is expected that seats for 2026 will probably be sold out in the first quarter of 2026,” Benton said.
