Lease Purchase Program in Trucking

If you’re a trucker or thinking about entering the industry, the idea of becoming an owner-operator might be on your mind. Lease programs offer a way to make that dream a reality, but there are important factors to consider at the beginning. Not all companies offer the same terms and conditions, so it’s essential to carefully evaluate your options before committing to any lease purchase program. Lease purchase programs have their own advantages and disadvantages compared to other options like being a company driver or a full owner-operator. Let’s break it down.

What is a lease-purchase program?

A lease-purchase agreement is a convenient way for drivers to own a commercial vehicle without the complexities of a traditional loan. This option allows ownership of the vehicle at the end of the lease period. It’s a pathway for drivers to eventually own the truck they’ve been leasing.

During a lease-purchase program, you essentially function as an owner-operator, leasing equipment from the company. Your driving services are for the carrier that leased the truck to you, meaning you won’t have the same independence as an owner-operator who buys equipment independently. However, you do get more flexibility than you would in a typical company driver position.

Types of Lease Purchase Programs

There are three main types of lease purchase or lease operator programs, each involving a truck lease. When deciding which one is right for you, it’s essential to understand the key differences.

  1. Contract Operators: In this scenario, you lease equipment from the carrier and return the truck at the end of the lease. Your choices for equipment may be limited, and essentially, your lease is more like a rental contract. If your goal is to own the equipment eventually, this might not be the best choice.
  2. Leased Owner-Operators: This is the traditional lease-purchase model where you lease equipment from a specific carrier and own the equipment at the end of the contract. This option provides a wider selection of truck styles and features, and you can customize the truck since there’s no obligation to return it.
  3. Independent Owner-Operators: If you prefer more flexibility, you can choose to be an independent owner-operator. In this case, you can lease and eventually own a truck without an outright purchase. However, you get your equipment from a third party instead of a carrier. This gives you the freedom to choose the specific equipment and customizations you want, and you are not bound to a specific carrier unless you decide to be.

Benefits of Lease-Purchase Trucking

In this discussion, we’re focusing solely on lease-purchase programs, setting them apart from lease operator or independent owner-operator initiatives.

  • Extra perks: Some leasing deals come with money-saving benefits, covering expenses like preventive maintenance, driver training, and performance reports. These perks might be automatically included or come with a small fee for customization.
  • State-of-the-art equipment: Lease-Purchase agreements often involve acquiring brand-new trucks, giving you the flexibility to choose the model that suits your needs. This is particularly beneficial if purchasing a new truck outright is financially challenging.
  • Administrative convenience: Finalizing a lease-purchase agreement with a carrier can include administrative support. Operating under the carrier’s authority means you won’t have to deal with the complexities of establishing your own authority. The carrier may also assist in load management and monitoring your hours of service.
  • Handling paperwork and requirements: In many cases, the carrier takes care of tasks like obtaining license plates, securing permits, and managing other essential administrative duties, saving you time and money.

It’s important  to note that every carrier has its own offerings, so carefully reviewing the lease-purchase agreement is essential before committing. Additionally, researching the carrier and understanding the specifics of their program will help you determine if a particular contract aligns with your needs. The more information you have upfront, the better equipped you’ll be to make an informed decision.

How much money can lease-purchase truckers make?

The income of a lease-purchase contractor can vary. Lease-purchase truckers usually earn a higher income compared to company drivers, yet it falls below the earnings of fully independent owner-operators. The significant benefit lies in the opportunity to generate a substantial income while actively working towards ownership of your equipment. This holds even if your credit score is not exceptionally high.

7 Things You Should Avoid in a Lease-Purchase Contract

We’ve stressed the importance of carefully reviewing your lease-purchase contract. While carriers have the flexibility to include different provisions, here are some common hidden costs and stipulations that you should steer clear of.

Balloon payments

It’s tempting to go for leases with the lowest monthly payments when starting out, but be cautious. If the initial payment seems unusually low, it could result in a hefty balloon payment at the end of the contract. This balloon payment is a significant amount due when the lease term concludes. Look for a lease with consistent payments or, at the very least, a small balloon payment you can comfortably manage.

Early Repayment Penalties

Paying off your equipment ahead of schedule not only saves on long-term interest but also acts as an escape plan if the carrier isn’t the right fit. Some leases, however, include clauses that prevent early repayment or impose substantial penalties. It’s okay to choose a lease with a short commitment, maybe half of the total term, but avoid commitments that extend to the very end of the contract.

Overly Long Leases

Ultimately, the goal is truck ownership and maintaining its value.  Avoid committing to excessively long leases; a three-year term is ideal. While extending to five years can reduce monthly payments, anything beyond that may not make financial sense.

Bloated Pricing

Don’t just focus on individual payments; consider the total cost of owning the truck. Carriers usually mark up the price a bit, but if the final cost is double the actual value, it’s wise to explore other options.

Fair Compensation

While not common, some carriers may pay lease operators less than company drivers or independent owner-operators for the same loads. Examine the contract carefully to ensure that the offered rates align with industry standards for everyone involved.

Maintenance Choice

When considering a lease-purchase contract, it’s crucial to ensure you have the freedom to choose any shop for maintenance. Unlike external shops that aim to charge for every possible service, the priority should be to get your truck back on the road quickly and affordably. Understand that necessary maintenance is crucial, but the focus should be on aligning goals for efficient and cost-effective solutions.

Overpaying for the Truck

Another critical aspect to consider is the purchase price of the truck itself. Ensure that the purchase price closely matches the market value, avoiding deals where the pricing appears unreasonably high.It may sound obvious, but some lease agreements can lead to shocking scenarios where a truck’s price significantly exceeds its market value.

For instance, signing a lease agreement for an older model at a price that far exceeds its actual worth can be a costly mistake. Seek reasonable pricing options and be wary of deals that seem too good to be true. Fair and transparent pricing is essential for a successful lease-purchase agreement.

Nova Lines Lease Purchase Program: Your Path to Truck Ownership

At Nova Lines, we understand the challenges of owning a truck, from complex terms to the high costs of equipment. Our lease-purchase program offer a straightforward and driver-friendly approach to help you take control of your own path to ownership.

Fleet and Equipment Overview

Nova Lines primarily offers 2022-2024 Freightliner Cascadias, ensuring you operate with reliable and modern equipment. Our trucks are governed at 65 mph, and for pedals, they’re governed at 67 mph.

Path to Ownership Made Easy

Our easy path to ownership program stands out in the industry. Nova Lines eliminates the worry of a balloon payment at the end of your lease. Instead, when the lease term concludes, you have the option to buy out the truck for just $1, making truck ownership more accessible than ever. The pay is competitive, providing a solid foundation for financial independence

Lease Highlights

  • Consistent Revenue Stream: Nova Lines ensures a consistent weekly revenue stream, promoting financial stability.
  • Flexible Lease Contracts: Our lease contracts offer flexibility, allowing you to walk away when it suits you.
  • Truck Ownership: Have a truck to call your own at the end of the lease term.
  • Top-of-the-Line Equipment: Nova Lines provides only well-maintained, top-of-the-line trucks and trailers.

Fuel Discount and Earning Potential

Nova Lines is dedicated to maximizing your earning potential. With a generous fuel discount of $0.40 per gallon, you can save significantly as you drive. The earning potential allows drivers to achieve up to $7,000 or more in weekly gross pay. Compensation starts at 80% from the gross, and the real rate cons are shared with the drivers.

Dispatcher-to-Driver Ratio 

We prioritize our drivers’ experience by maintaining a 1:6 dispatcher-to-driver ratio, ensuring personalized attention and avoiding forced dispatch. 

NEVER Forced Dispatch

At Nova Lines, we take pride in being a genuine non-forced dispatch flatbed company. Effective communication between drivers and dispatchers is crucial, and our dispatchers are familiar with drivers’ schedules, understanding home time, shop time, and individual preferences. We prioritize fair compensation practices, considering various factors when making load assignments. Our dispatchers proficiently understand drivers’ hours of service, aligning load assignments accordingly. Nova Lines actively collaborates with drivers to prioritize well-being, ensuring they promptly return to the road when conditions permit.

Additional Benefits

Team Drivers, Pets & Riders: At Nova Lines, we understand the importance of companionship on the road. Bring your team, pets, or riders along for the ride, creating a supportive and comfortable environment.

REQUIREMENTS: 12+ Months CDL-A & 3+ Months OTR Flatbed experience. Join Nova Lines with confidence, knowing that a solid background in CDL-A and OTR flatbed experience is valued. We seek experienced drivers who can contribute to the success of our team and the satisfaction of our clients.

Hometime Options

Nova Lines not only provides you with a truck but also ensures a steady workflow for a consistent paycheck. We empower our operators to choose their routes and distances, giving you control over your schedule. Recognizing the diverse needs of our drivers, we offer various hometime options. Whether you prefer returning home every two weeks or extending your time on the road for up to four weeks, Nova Lines accommodates your personal situation. Our successful contractors often choose to go home at least once every 2 to 3 weeks, balancing work and personal life effectively.

Choose Nova Lines: Driving Your Success, Your Way

Nova Lines is committed to providing you with the support and freedom you need to succeed as an owner-operator. Our lease-purchase program is designed to be transparent, empowering you to make informed decisions and achieve your goals in the trucking industry. Take control of your own path to truck ownership with Nova Lines!


Q1: What sets Nova Lines’ lease-purchase program apart from others?

Nova Lines’ lease-purchase program distinguishes itself through a straightforward path to ownership, eliminating balloon payments at the end of the lease. With competitive pay, flexible contracts, and top-of-the-line equipment, Nova Lines prioritizes drivers’ financial success and overall satisfaction.

Q2: How does Nova Lines support its drivers in terms of dispatch and load assignments?

Nova Lines maintains a 1:6 dispatcher-to-driver ratio, ensuring personalized attention and avoiding forced dispatch. The company is proud to be a non-forced dispatch flatbed carrier, prioritizing effective communication, fair compensation practices, and collaboration with drivers for load assignments.

Q3: What are the fuel discounts and earning potential offered by Nova Lines?

Nova Lines provides a generous fuel discount of $0.40 per gallon, allowing drivers to save significantly on fuel costs. The earning potential is impressive, with drivers having the opportunity to achieve up to $7,000 or more in weekly gross pay. Compensation starts at 80% from the gross, and real rate cons are shared with the drivers.

Q4: What are the requirements for joining Nova Lines’ lease-purchase program?

To join Nova Lines with confidence, drivers need to have a minimum of 12 months of CDL-A experience and at least 3 months of OTR flatbed experience. Nova Lines values experienced drivers who can contribute to the success of the team and the satisfaction of clients.

Q5: What hometime options are available for Nova Lines’ lease-purchase contractors?

Nova Lines offers a range of hometime options, allowing operators to choose routes and distances that align with their preferences. Whether drivers prefer returning home every two weeks or extending their time on the road for up to four weeks, Nova Lines accommodates diverse personal situations, empowering drivers to balance work and personal life effectively.