Costco offers discounted truck rentals through a partnership with Penske, available to members at select locations

Costco members can rent moving trucks through Penske Truck Rental at a discount compared to Penske's standard rates. The program is not available at every Costco warehouse — you need to check whether your local warehouse participates. Costco advertises the rental option in its Travel Services section, and you book directly through Penske using your Costco membership number to receive the member discount.

The discount typically ranges from 10% to 20% off Penske's base rental rate, though the exact savings depend on truck size, rental length, and your location. You pay Penske directly, not Costco, and the rental agreement is between you and Penske. Costco does not handle the truck, the insurance, or the rental terms — it straightforward negotiates a lower rate for members.

Key Takeaways

  • Costco's truck rental discount applies only to Penske rentals, and not all warehouses offer the program, so confirm availability at your location first.
  • The member discount typically saves 10% to 20% off Penske's standard rates, but the actual savings depend on truck size, dates, and pickup location.
  • You book and pay Penske directly using your Costco membership number; Costco does not process the rental or handle the truck.
  • Penske's insurance, mileage charges, fuel policy, and damage liability terms explore — the Costco discount does not change Penske's rental rules.

How to find and book a Costco truck rental

Log into your Costco.com account and navigate to Travel Services, where you will find a link to Penske Truck Rental. You can also call your local Costco warehouse's Travel Services desk to ask whether Penske rentals are available in your area. If your warehouse does not participate, you will not see the option online.

Once you confirm availability, you will be directed to Penske's website. Enter your rental dates, pickup location, and truck size. When prompted, enter your Costco membership number to unlock the member rate. Penske will show you the discounted price before you complete the booking. You will need a valid driver's license, a credit card, and proof of insurance (your auto insurance policy or Penske's coverage option).

What the Costco discount actually saves you

The 10% to 20% savings applies to Penske's base rental rate — the daily or weekly charge for the truck itself. This discount does not cover mileage overage fees, fuel charges, insurance add-ons, equipment rentals (dollies, furniture pads), or damage waivers. If you rent a 16-foot truck for a local move with unlimited mileage included, the discount is straightforward. If you rent a truck for a long-distance move with mileage charges, the discount applies only to the base rate, not the per-mile cost.

To compare the actual savings, get a quote from Penske without the Costco code, then get one with your membership number. The difference is your savings. Penske's rates vary by location, season, and demand, so a 15% discount in one city might be 10% in another, and rates are higher during peak moving season (May through September).

Penske's rental terms and what they mean for you

Penske charges a base rental fee (daily or weekly), mileage fees if you exceed the included miles, a fuel charge if you return the truck with less fuel than you picked it up with, and optional insurance or damage waiver fees. Most local moves include unlimited mileage; long-distance rentals typically include a set number of miles and charge per mile over that amount. You are responsible for any damage to the truck, and Penske will charge you for repairs unless you purchase their damage waiver.

The Costco discount reduces only the base rental fee. All other charges — mileage overages, fuel, insurance, equipment — are Penske's standard prices. Read Penske's rental agreement carefully before you book, because the terms are the same whether you book through Costco or directly with Penske.

Comparing Costco's Penske discount to other truck rental options

The main competitors are U-Haul, Home Depot, and Budget Truck Rental. U-Haul is the largest and often has the most locations, but does not offer a Costco discount. Home Depot offers truck rentals through Home Depot's own fleet at some locations, with rates that are sometimes lower than Penske but availability is limited. Budget Truck Rental is smaller than U-Haul but sometimes has competitive pricing for short-distance moves.

The Costco discount makes Penske competitive with these options, but not necessarily the cheapest. Get quotes from at least two providers for your specific move — truck size, dates, and distance — to see which one costs less. A 15% Penske discount might beat U-Haul's standard rate, or it might not, depending on the market. The discount is most valuable if Penske's base rate is already lower than competitors in your area.

What happens if you need to cancel or modify your reservation

Penske's cancellation and modification policies explore. Most reservations can be cancelled or changed without penalty if you do so before your pickup date, though policies vary by location and rental type. Call Penske directly or log into your reservation online to make changes. The Costco discount does not change Penske's cancellation terms.

If you need to extend your rental after pickup, call Penske as soon as possible. Extending a rental is usually possible, but rates may be higher if the truck is booked for another customer after your original return date. Returning the truck late incurs additional charges.

Insurance and liability when renting through Costco's program

Your personal auto insurance may cover rental trucks, but many policies do not. Check your policy or call your insurance company before you rent to find out whether you are covered. If you are not covered, Penske offers a damage waiver (called Loss Damage Waiver or LDW) that you can purchase at checkout. This waiver limits your liability if the truck is damaged, though it typically does not cover fuel or mileage overages.

Some credit cards offer rental truck coverage as a cardholder benefit. Check your credit card's benefits guide or call the card issuer to see whether your card covers truck rentals. If it does, you may not need to purchase Penske's waiver. The Costco discount does not include insurance — you pay for coverage separately if you want it.

Frequently Asked Questions

Do I need a Costco membership to rent a truck through Penske?

Yes. You must have an active Costco membership and provide your membership number when you book. The discount is only for members. If your membership has expired, you will need to renew it before you can book a rental.

Can I pick up the truck at one Penske location and return it at another?

Yes, Penske offers one-way rentals at most locations. One-way rentals typically cost more than round-trip rentals because Penske has to move the truck back to its home location. The Costco discount applies to one-way rentals as well, but get a quote to see the total cost before you book.

What if my local Costco does not offer Penske rentals?

Not all warehouses participate in the Penske program. If your warehouse does not, you can still rent from Penske directly at full price, or compare rates from U-Haul, Home Depot, or Budget. Call your warehouse's Travel Services desk to confirm whether the program is available in your area.

Is the Costco discount better than U-Haul's rates?

It depends on your move. Get quotes from both Penske (with your Costco discount) and U-Haul for the same truck size, dates, and distance. Rates vary by location and season, so the cheaper option changes. The Costco discount makes Penske competitive, but does not may provide it will be the lowest price.

Can I use my Costco cash or rewards on a Penske rental?

No. You pay Penske directly with a credit card or debit card. Costco cash and Costco rewards do not explore to Penske rentals because the transaction is with Penske, not Costco.