Top 3 Cheapest Rental Truck Companies of 2020

  • Best local prices

    Budget Truck Rental

    4
    Read Review
    • Lowest local prices
    • Lowest overall prices
    • High fuel costs
    Get a Quote
  • Best one-way prices

    Penske Truck Rental

    5
    Read Review
    • Lowest one-way prices
    • Most accurate quotes
    • High local move prices
    Get a Quote
  • Best insurance prices

    U-Haul

    4
    Read Review
    • Lowest insurance prices
    • Lowest prices for short and long moves
    • Inaccurate quotes
    Get a Quote

Rental trucks are often your cheapest DIY move option because you do most of the work (like packing, loading, and driving) instead of hiring a professional mover.

But that doesn’t mean all moving truck rental companies are created equal.

They aren’t.

Some companies offer low quotes but have high final prices. Others have low rates for local moves but are more expensive for one-way trips. And so on.

We researched truck rental companies to find your cheapest options. We collected 116 quotes from five of the biggest moving truck rental companies to find out which moving truck company is the cheapest.

We identified the three best cheap truck rental companies:

  1. Budget Truck Rental
  2. Penske Truck Rental
  3. U-Haul

We’ll walk you through the pros and cons of each truck rental company and help you find the cheapest option for your move.

The cheapest rental truck companies

  • Budget Truck Rental—Best prices on local moves
  • Penske Truck Rental—Best prices on one-way moves
  • U-Haul—Cheapest insurance

Budget Truck Rental—Best prices on local moves

Overall rating

4 / 5

Budget Truck Rental has the lowest overall prices and is especially affordable for local moves. The moving company also has several discounts, including an automatic discount of about 9% for one-way reservations booked online. Although it has high fuel costs and insurance prices, it’s still one of the best budget truck rental companies.

Budget Truck Rental costs

Budget Truck RentalOur top truck rental companies
Average cost$1,520$1,550
Average cost
Budget Truck Rental Our top truck rental companies
$1,520 $1,550

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

PROS

  • Lowest local prices
  • Lowest overall prices
  • Instant online discounts
  • Includes mileage in quotes

CONS

  • High fuel costs
  • High insurance costs

What sets Budget Truck Rental apart?

Budget Truck Rental has the lowest overall prices

The average cost to move with Budget Truck Rental is $1,520—or $30 less than the average of the other companies on our list.

Even better? Budget Truck Rental is $60 more affordable on average than its highest-priced competitor, U-Haul.

Budget Truck Rental is your cheapest in-town truck rental option

Budget Truck Rental scores off the affordability charts for local moves. The average cost for a local move with a Budget rental truck is $80—or $70 less than the average.

Budget Truck Rental costs for local moves
Budget Truck RentalPenske Truck RentalU-Haul
Average cost$80$110$260
Average cost
Budget Truck Rental Penske Truck Rental U-Haul
$80 $110 $260

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes for a local move of 50 miles in which the moving truck is returned to the same location.

Want a cheap moving truck for an in-town move?

Get a Quote

Get money

SAVE 10% ON A BUDGET TRUCK RENTAL RESERVATION

SAVE 10% ON A BUDGET TRUCK RENTAL RESERVATION

You receive an automatic discount of about 10% if you reserve a truck online with Budget Truck Rental.

Learn more in our Budget Truck Rental Review.

Penske Truck Rental—Best prices on one-way moves

Overall rating

5 / 5

Penske has the most accurate quotes of any company we researched (meaning your quote will be basically the same as your final price). It also has the lowest prices for one-way moves and larger trucks for moving big homes.

While it has high prices for local moves and smaller trucks (for smaller homes), its overall rates are lower than average. Its trucks also get the best gas mileage of any company in the business.

Penske Truck Rental costs

Penske Truck RentalOur top truck rental companies
Average cost$1,540$1,550
Average cost
Penske Truck Rental Our top truck rental companies
$1,540 $1,550

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

PROS

  • Lowest one-way prices
  • Most accurate quotes
  • Lowest prices for big homes
  • Best gas mileage

CONS

  • High prices for local moves
  • High prices for small homes

What sets Penske Truck Rental apart?

Penske Truck Rental has the lowest one-way prices

The average cost of a one-way move with Penske Truck Rental is $1,750—or about $30 less than average. If you’re moving to another city, it’s tough to beat Penske Rental Truck’s prices.

Penske Truck Rental one-way prices
Penske Truck RentalOur top truck rental companies
Average cost$1,750$1,780
Average cost
Penske Truck Rental Our top truck rental companies
$1,750 $1,780

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

Penske Truck Rental has the most accurate prices

At first glance, Penske Truck Rental looks like it’s hundreds of dollars more expensive than other companies. In reality, the company is just more up-front with customers about final costs.

Here’s why:

The cost to rent a moving truck is almost always higher than what you see in your initial quote. Many companies don’t include fees, deposits, or taxes in your estimate—and those can amount to hundreds of dollars.

We like Penske Truck Rental because it has the most straightforward pricing. Its quotes are nearly 100% accurate: the only cost not included is fuel.

By comparison, the average company charges about 40% more than your quote.

Truck rental quotes compared to final prices
Initial quoteFinal costAmount above quote
Penske Truck Rental$1,360$1,540$180
Budget Truck Rental$1,170$1,520$350
U-Haul$1,180$1,580$400
Penske Truck Rental
Budget Truck Rental
U-Haul
Initial quote Final cost Amount above quote
$1,360 $1,540 $180
$1,170 $1,520 $350
$1,180 $1,580 $400

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing initial quotes and final prices (including fuel costs) for four home sizes across seven distances.

Want a quote that matches your final price?

Get a Quote

Penske Truck Rental has the best gas mileage in the business

Don’t forget that you’ll need to fill up your truck’s gas tank when you move. That’s not a big deal if you’re moving only a short distance.

But the costs add up if you’re traveling across the country. Different moving truck sizes get different gas mileage rates—which also vary from company to company.

We found that Penske Truck Rental can save you up to $60 in fuel costs compared to competitors.

Penske Truck Rental fuel costs
Penske Truck RentalOur top truck rental companies
100 miles$20$20
1,050 miles$180$200
2,050 miles$350$410
100 miles
1,050 miles
2,050 miles
Penske Truck Rental Our top truck rental companies
$20 $20
$180 $200
$350 $410

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

Learn more in our Penske Truck Rental Review.

Heads up exclamation

ANOTHER OPTION FOR LOCAL MOVES

ANOTHER OPTION FOR LOCAL MOVES

Enterprise Truck Rental didn’t make our list because it offers only local moves, but we like the company’s 14 different moving truck sizes (including a pickup truck and a cargo van). Learn more in our Enterprise Truck Rental Review.

U-Haul—Best insurance prices

Overall rating

4 / 5

U-Haul is probably the most well-known moving truck rental company. It has low prices for moves of 100 and 1,000 miles and the cheapest insurance.

On the other hand, U-Haul’s overall costs are typically high, and its quotes aren’t very accurate: an average move with U-Haul costs about $400 more than what the company quotes you.

U-Haul costs

U-HaulOur top truck rental companies
Average cost$1,580$1,550
Average cost
U-Haul Our top truck rental companies
$1,580 $1,550

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

PROS

  • Lowest insurance prices
  • Low prices for moves of 100 miles
  • Low prices for moves of 1,000 miles

CONS

  • Inaccurate quotes
  • Highest overall prices

What sets U-Haul apart?

U-Haul has low prices for moves of 100 and 1,050 miles

U-Haul often gives the lowest quotes but has the highest final prices. However, there are two instances in which U-Haul has the cheapest rates:

  1. Moves of 100 miles. U-Haul’s price of $210 is $30 cheaper than the average.
  2. Moves of 1,050 miles. U-Haul’s price of $2,310 is $260 cheaper than the average.

Want to save more than $200 on a move of 1,000 miles?

Get a Quote

Megaphone

CHOICES, CHOICES!

CHOICES, CHOICES!

U-Haul has six different trucks to choose from, including a cargo van and a pickup truck for smaller moves. You can also rent equipment, like hand trucks and furniture pads. Learn more in our U-Haul Review.

U-Haul has the lowest insurance prices

Truck rental companies allow you to purchase insurance to cover costs due to accidents, injuries, and even roadside assistance annoyances like flat tires. While each company has slightly different offerings, U-Haul’s average insurance rates are about $50 lower than the competition.

U-Haul insurance costs
U-HaulOur top truck rental companies
Average cost$70$130
Average cost
U-Haul Our top truck rental companies
$70 $130

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing rental costs plus fuel for four home sizes across seven distances.

U-Haul has very inaccurate quotes

U-Haul has attractive quotes, but your quote does not equal your final price. U-Haul quotes include the cost of a moving truck rental and an environmental fee, but they don’t include other expenses:

  • Taxes
  • Fuel costs
  • Mileage fees on local moves
Little pin

U-BOX: A U-HAUL MOVING CONTAINER

U-BOX: A U-HAUL MOVING CONTAINER

U-Haul has a moving container called a U-Box. Like with its moving trucks, final U-Box costs are much higher than initial quotes. But there are times when the U-Box has the lowest rates compared to other moving container companies.

The result is that your final U-Haul price is about 60% more expensive than your initial quote. For local moves, your final price is about 240% higher, while one-way moves set you back an extra 30%.

That means an average move with U-Haul will cost $400 more than your quote.

U-Haul quotes vs. final prices
Initial quotesFinal pricesDifferences
Local moves$30$110$80
One-way movess$1,370$1,830$460
Averages$1,180$1,580$400
Local moves
One-way movess
Averages
Initial quotes Final prices Differences
$30 $110 $80
$1,370 $1,830 $460
$1,180 $1,580 $400

Data current as of 6/19/20. Offers and availability may vary by location and are subject to change. Average cost calculated by comparing initial quotes and final prices (including fuel costs) for four home sizes across seven distances.

Learn more in our U-Haul Review.

Recapping our three best cheap truck rental companies

  • Budget Truck Rental—Best prices on local moves
  • Penske Truck Rental—Best prices on one-way moves
  • U-Haul—Best insurance prices

Not all rental truck companies are created equal. Budget Truck Rental has the best overall prices and really shines for local moves. Penske Truck Rental has the cheapest rates for one-way moves. And U-Haul is your go-to company for low insurance costs.

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About Kurt Manwaring

Kurt Manwaring
Kurt Manwaring brings nearly a decade’s worth of research experience as a business consultant to the Move.org team. He specializes in taking complicated issues (like moving) and presenting them in a way that everyone can understand. His writing has been featured in hundreds of publications, including USA Today, Country Living, Good Housekeeping, Heavy, Slate, and Yahoo! Lifestyle. He would love to hear about your moving experiences and questions at kurt@move.org.