Are you a truck driver looking to close the significant gap between being a standard employee and an owner-operator? If yes, you should look into a profitable lease purchase program with one of the lease purchase trucking companies. There is no doubt that lease purchase programs in the US are becoming extremely popular among many truck drivers.
If you are working as a company truck driver, you can benefit from a lease purchase trucking program. Lease purchase trucking programs with top lease purchase trucking companies are an excellent way for you to easily become an independent owner-operator.
Note that eventually, you will be your own boss. However, it is important to consider all the factors and variables before signing the contract.
Did you know that lease purchase programs are quite attractive to rookie truck drivers? This is because these drivers might not have the credit rating or capital in order to buy a truck upfront.
Lease Purchase Truck Driver Programs Explained
As a professional trucker, you can easily make the important transition to become an owner-operator. You can do it by simply purchasing your truck from a lease purchase company. You will have to make a series of monthly or quarterly lease payments.
Note that you may consider a lease purchase agreement with any of the lease purchase trucking companies. It will benefit you if you have been working as a company truck driver for many years. It is perfect for you if you like the idea and convenience of becoming an owner-operator. This will help you earn more while creating a more convenient and flexible schedule.
A lease agreement with one of the top lease purchase trucking companies is an ideal option. This is because it will allow you to use the truck without any encumbrances. You can use the truck during the specified lease period on the basis of other stipulations and conditions.
As a driver, you will drive the truck for the company or organization providing the truck lease and then make timely lease payments for your truck back to that company. It is worth noting that drivers usually assume all responsibility and obligation for maintenance as well as upkeep of their trucks as needed. Note that at the end of your lease term, you will complete the payments and own the truck.
Things You Should Consider in any Lease Purchase Agreement
It is no secret that, like any piece of heavy equipment, trucks often require regular repairs. Keep in mind that these costs are usually the main responsibility of the owner-operator. Did you know that truck repair can cost you up to $17,000 per annum? This is true if you are a standard OTR truck driver who logs 100,000 miles.
This is why you have to be more cautious when signing a truck lease purchase with lease purchase trucking companies, including lease purchase flatbed trucking companies.
Also, it is worth noting that if you are leasing a used truck, you must review all the repair and maintenance records of the truck. It is also important to double-check if another truck driver ran that truck as a lease in the past.
Note that these precautions may seem like common sense. However, being thorough and detailed in your examination and assessment of a used truck is important. This is because it will likely save you from committing a potentially serious mistake.
Which Trucking Company’s Lease Purchase Program is the Best?
There is no doubt that making a purchase like choosing a lease purchase trucking company is usually a high stakes decision for most people. This is why you should research all your options. This is helpful as it will ensure that you choose a company that can meet your needs and is reliable. The company should also provide the features you are looking for.
Did you know that some top lease purchase trucking companies have excellent lease programs in order to assist truck drivers? However, it is worth noting that the rate at which these programs fail is quite high. It is no secret that a lease purchase truck program is an incredibly useful financial tool that can help you finance a new truck and be your own boss. However, it is important to read every detail in the contract. This will ensure that you know and understand what to expect from the trucking company that is providing the deal.
Here are some of the top lease purchase trucking companies with excellent lease purchase programs.
You may have heard of Swift Transportation. The company is famous for its large fleet of modern trucks that you can choose from. It has about 15,000 trucks that you can choose from and also boasts a very structured and streamlined lease-purchase contract. This makes Swift Transportation one of the top lease purchase trucking companies in the country.
You will be happy to know that all of the company’s trucking and spare equipment is modern and glitch-free. One of the best aspects of this trucking company is how accessible it is. This is especially true, given that it operates across more than 40 states in the US.
If you work for Swift Transportation, you will benefit from medical, dental, and vision insurance, safety bonuses, and retirement plans. The company also offers benefit programs for your spouse and child. And that is not all; an allowance for safety bonuses, pets, paid orientations, and profit-sharing are also available. Some of the driving job options for you are routes close to home, intermodal, dry van, flatbed, and heavy-haul.
It is no secret that JB Hunt is one of the best lease purchase trucking companies in the US. The company is excellent as it offers you many lease purchase program plans. This will help you reap the maximum benefits from the lease. You will also realize your dream of becoming a truck owner and operator.
Did you know that regardless of your financial situation and credit score, you can easily become the proud owner of a top-quality freight-liner or truck in less than two years?
Also, one of the most appealing features of this trucking company is that you can choose from multiple lease plans. These plans are the Basic Percentage Plan, the Performance Percentage Plan, the Performance Mileage Plan, or the Basic Mileage Plan.
You will also be happy to know that JB Hunt provides you with flexible and convenient weekly repayments, simple incentives, and terms that can get you started on an effective lease purchase program without the hassle of any upfront costs.
Did you know that the lease term ranges from 12 months to 36 months? The company will wait until you’re in the third week in order to ensure that you get a good start as a truck owner. After that, you will start making your payments, usually on a weekly basis.
The company lease purchase programs are carefully designed and structured. They ensure that you save as much money as you can and simultaneously maximize the profits during your loan period.
PGT Trucking Inc
Note that PGT Trucking is another top trucking company in the country. The company has one of the best lease purchase programs. This is because it provides support all the way through. Keep in mind that as PGT Trucking is a large trucking company, it offers you flexible scheduling.
The company also offers many other financial incentives that will help you succeed as a professional truck driver. So, it is one of the top lease purchase trucking companies.
Not only does the company offer excellent solutions for its truck drivers, but the company’s convenient lease-purchase plans are among the best on the market. So, if you would like to become a truck owner, then PGT Trucking Inc is probably one of the most suitable options for you. You will be pleased to know that the lease purchase program is often designed with the trucker as the focal point.
If you are looking to make the important move to owner, Nova Lines has a ‘Pathway to Ownership’ lease program. The program is simple and hassle-free. You will be pleased to know that the company offers you high quality and reliable trucks. And you will not incur any hidden costs. The company offers both automatic and manual transmissions with leases ranging from three to five years.
Also, note that the company will back you up with excellent and comprehensive support. This will help you succeed in the long run. This makes Nova Lines one of the top lease purchase trucking companies in the country.
One of the best things is that you will remain in control. You will be able to select the plan that best suits you. Also, you are always free and have the liberty to switch to another plan in case the initial choice doesn’t offer the results you are looking for.
CRST Expedited Trucking
Did you know that this company has more than fifty years of experience in the trucking business? CRST is one of the best lease purchase trucking companies as it provides exceptional customer service to its drivers.
The best thing is that CRST actively recruits for its trucker lease purchase program. The company does this by offering a wide array of benefits. Some of these benefits include:
- Excellent fuel discounts
- A chance to easily hire a reliable co-driver from its extensive fleet
- No credit or income checks
- Guaranteed home time
- No money down
How much do Lease Purchase Truck Drivers Make?
Note that a lease-purchase driver usually makes about $80,000 (on average) annually. Also, it is worth noting that this amount may go up to $110,000 or even more if you’re an experienced driver. However, note that money isn’t the sole benefit of working in this sector. This is because, in addition to earning, you’ll make sufficient savings in order to finally purchase the truck.
There is no doubt that lease purchase programs are an excellent way to make the important jump to becoming an owner-operator. However, when choosing a trucking company, you should know all the details. This is because leasing a truck is a crucial decision and can easily open many avenues for you. So, you should not make any rash or hasty decisions and consider all your choices.