Here are some variations I have seen.
RENT WITH OPERATOR. You send the truck with an employee to operate it.
You insure it and train someone to use it without wrecking it.
LEASE. Slice up the truck value and add a real good profit. Get some money up front. In this plan you transfer the title to the leesee with a lien against the title so the truck cannot be sold until you are paid completely. The truck "belongs" to the leesee as long as they pay on time. You get the truck back at the end of the lease period. You can sell what is left at the end of the leese. If you promise to sell the vehicle the the leesee it could be called a conditional sale and you could end up paying sales tax on the higher new value.
RENTAL. You own the truck and charge my the hour, day or week for some one else to use your truck. You gotta charge enough to cover normal wear & tear + idiot use. You fix whatever gets broken. If something bad happens you will eventually be contacted by lawyers as mentioned by others. You are free to use the vehicle when not rented to others.
Every state is different on this stuff so you gotta talk to the motor vehicle folks, your insurance carrier and a lawyer. Free advice is worth exactly what you pay for it.
Joe
