If you want to start your trucking business as an owner-operator, the first thing you will need is a trucking company to lease with. Since it will not be wise to start your business by spending a high amount on buying a truck, leasing is a good option. Here in this article, we have listed down the best trucking companies having excellent lease purchase programs for drivers.
Most of the best trucking companies to lease with offer you the lease-purchase program which is the preferred option for most of the owner-operators. This is a popular offer in the trucking business. However, before entering into a lease-purchase agreement, you must have a good idea of this agreement.
What is a lease-purchase program?
A lease purchase program is an agreement between the owner-operator and the trucking company. Under this agreement, the operator or the lessee pays regular lease charges for a considerable period or the period mentioned in the agreement. After the expiry of the lease period, the operator or lessee can purchase the vehicle he/she took on the lease.
Keep in mind one thing before leasing a truck. Since it is a second-hand truck, you must check the repair records of the truck. This is to ensure the condition of the truck as well as you don’t need to spend too much on repairs during the lease period.
20 Trucking Companies for Leasing Trucks
Here is the list of top trucking companies having the best lease purchase programs:
1. JB Hunt
JB Hunt is one of the best trucking companies to lease with. It owns a fleet of more than 12,000 trucks. Not only that, it offers you several lease purchase programs like the Basic Percentage Plan, the Performance Percentage Plan, the Performance Mileage Plan, or the Basic Mileage Plan. The lease duration may be between 12 and 36 months. It also offers you the convenience of weekly repayment schemes as well as bonus points.
2. PGT Trucking Inc.
PGT Trucking is famous for its flexibility as well as a convenience which makes it the best trucking company to lease with. It has a wide area of operation covering the US, Canada, and Mexico. They offer you facilities like deferred payment and free trailer rental for the first 4 weeks, discounts on the price of tires and parts, etc. You can purchase a truck within 3 years.
3. PAM Transport
If you want to grow your business fast and increase the number of trucks as an owner-operator, PAM Transport can be the best trucking company to lease with. It offers you several incentives and zero hidden costs. The company pays the licensing and permits expenses and offers fuel at a corporate rate. Moreover, it also gives you discounted rates for auto parts and repairs.
Beginning its operations back in 1935 with a lone truck, Schneider now has more than 9000 trucks and close to 3000 owner-operator businesses. This company with its multiple lease purchase programs can well be your best trucking company to lease with. It offers you programs like the All-In Revenue program, Percent of Revenue program, Solo Van Truckload revenue, and Team Van Truckload revenue programs to choose from.
5. Baylor Trucking
Baylor Trucking Company has its policy of choosing the driver for the lease-purchase agreement. After working for 60 days, you can qualify as a driver and get the benefits of the lease-purchase program. You have to make a down payment of $1500 for a lease agreement. It offers payment deductions and tax deductions making it a preferred trucking company to lease with.
6. Covenant Transport
Covenant Transport has a wide network throughout the USA, thereby a great choice as a trucking company to lease with. You can choose between an automatic or manual transmission truck. They offer various welfare schemes for drivers.
7. CRST Expedited Trucking
With an experience of more than 50 years in the trucking business, CRST Expedited Trucking can be a good trucking company to lease with. It offers you various facilities like hiring a co-driver, no down payment, fuel discounts, no hidden costs, and guaranteed home time.
8. USA Truck Capacity Solutions
USA Truck Capacity Solutions has a fleet of sophisticated trucks and a long experience of 30 years. Moreover, it has a wide network covering the USA, Canada, and Mexico. It can be your best choice of the trucking company to lease with due to its excellent network where you can directly speak to the company executive and enter into a lease-purchase program.
9. Nova Lines
The ‘Pathway to Ownership’ program offered by the Nova Lines makes it one of the best trucking companies to lease with. It offers you several advantages like financial independence through a weekly revenue system, flexibility to exit the lease contract whenever you want, and getting well-maintained trucks.
If you are a female truck driver aspiring to become the owner-operator of a trucking business, Ryder is the best trucking company to lease with. This is because they have a specially designed fleet of trucks for female drivers. Apart from that, they give you several advantages like brand new trucks like Volvo VNL 670 or Freightliner Cascadia on a lease, flexible lease terms, covering the costs of Maintenance and warranty, etc.
11. ACME Truck Line
If you are keen on starting a hotshot trucking business, ACME Truck Line is your best choice of the trucking company to lease with. Apart from its wide-area coverage, it offers you facilities like Health and insurance, bobtail and physical damage insurance, and an employee stock ownership plan under the sponsorship of the company. It has lease options for both CDL and non-CDL drivers.
12. KSM Carrier Group
If you want to start your trucking business and have no money, KSM Carrier Group is your best company to lease with. This company will help you with their flexible payment options as well as schedules. Moreover, they give you relief on maintenance costs and pay the cargo and liability insurance.
13. Swift Transportation
Founded in 1966, Swift Transportation now owns a fleet of more than 15,000 trucks and 60,000 trailers. It offers several options for lease-purchase. The company will offer you sophisticated trucks on lease. Moreover, it has health insurance, family welfare, and other welfare programs.
14. Expedited Freight
Expedited Freight is a large hotshot trucking company with more than 50,000 trucks and a network covering all of the USA, Canada, and Mexico. It is a great trucking company for your hotshot trucking business.
15. Hotshot Logistics
Hotshot Logistics can be your best choice of a trucking company to lease with if you want to start a hotshot trucking business. Apart from its ‘All the USA’ coverage, it will give you several incentives that will make your business easier and more profitable. It gives you 75% of line haul truck pay and that increases to 76% after one year. Furthermore, cargo and liability insurance are also covered by the company.
16. Patriot Freight Group
Patriot Freight Group is also a good company to lease with for the hotshot trucking business. The company offers you a public database from which you can choose your consignment and get it through phone calls or emails. The company based in Houston operates throughout the USA.
17. USA Truck Company
This company is one of the largest logistic networks in the USA. Apart from the lease-purchase program, it also offers you training facilities. The company gives healthcare, insurance, travel assistance, stock purchase plan, and vacation time. Hence it is one of the best trucking companies to lease with.
18. Hot Shot Trucking
This company is also ideally suited for the hotshot trucking business. Based in California, it operates throughout the USA and has good lease programs for you.
19. Riverside Transport
Riverside Transport is a good trucking company to lease with. It will give you total coverage on the maintenance program. Hence, you need not spend money on the repair and maintenance of the truck you lease.
20. Prime Inc
Prime Inc. is also a great choice as a trucking company to lease with. It offers both lease and lease-purchase programs. You don’t have to pay anything upfront for only a lease. While for lease-purchase you have to make a down payment.
Suggested Read: Best Trucks for Hotshot Trucking
Benefits of Leasing Trucks
Lease or lease-purchase, whichever you choose offers you several advantages like
- No or minimum upfront payment
- Many benefits and Incentives
- Opportunity to become an owner-operator
- Flexible schedule
- Different types of contracts to choose from
Hence, you should find out the best trucking companies to lease with and start your trucking business.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.