While making a living as a truck driver at any level is a lucrative form of employment, breaking into an owner-operator trucking career is often the most attractive option because the profits that you gain are usually all your own to keep. The only thing is, in order to step into the world of owner-operator trucking, you have to have a rig of your own. Leasing a semi truck is a good way to get started, but it must be done right. Here is a simple ABC rule set that you should keep in mind about leasing semi trucks.
Always look for lease-to-own options.
It is fine to sign up for a temporary lease program if you only need a truck for a short amount of time, say a few weeks. However, if you are looking to make a long-term investment in a semi truck, short-term leasing options are not that logical. You will end up paying more money out of pocket and still have to find a semi truck when the term of the lease is up. Look for companies that offer lease-to-own options so that whatever you pay will go toward the overall cost of the vehicle.
Be sure to consider pricing differences.
A like-new semi truck can run $100,000 or more, which is not an affordable investment for most owner-operators when they first start out. An older-model used truck is usually a much more affordable option, with a truck that is 10 to 15 years old costing as little as $35,000. You may pay a slightly higher interest rate for an older model, but your payments will be lower and more affordable.
Carefully assess the terms of any lease agreement you may be offered.
Lease agreements can vary greatly depending on the lender when it comes to semi trucks. Therefore, when you choose to make an investment in your trucking future with a new lease agreement, you should fully understand every last detail of the paperwork involved and shop around for the best rates before signing anything.
If you have your commercial driver’s license and are like the majority of truck drivers in the country, you spend your days hauling freight in a truck that belongs to a company that has hired you for your professional expertise. Get away from giving away your talents and start putting more money in your pocket with every load. Be sure to to talk to a semi leasing company like Decatur Trailer Sales & Service Inc for more information about getting started with owner-operator trucking.