The Benefits of Truck Leasing Programs for Your Drivers Careers
Why should a driver leave his job as a company contractor and start a career with truck leasing programs? Is it worth it to leave all your employee benefits behind?
In this episode of Driven Too Far, we explore the benefits of these types of programs and tell you why they might be more beneficial than they look.
Starting or advancing a career in trucking offers many opportunities—and one of the best-kept secrets in the industry is the truck leasing program. For drivers looking to take control of their careers, increase their income potential, and gain more flexibility, truck leasing programs can be a game-changer.
Real Trucking Lifestyle Success Story: Brian from Chief Carriers
Brian’s journey in the trucking industry is a testament to the transformative power of leasing programs.
Brian initially worked as a company driver for Chief Carriers, providing a comfortable living for him and his wife. However, this wasn’t enough for him; he had more dreams and aspirations and needed more income. He decided to take on a truck purchasing program and later joined.
Chief Carriers’ leasing program.
By attending workshops, staying disciplined, and saving diligently, Brian not only paid off his truck and past debts but also significantly improved his financial situation.
His story illustrates how a well-structured lease program can set you up for success, providing the tools and support needed to thrive.
Why Take the Risk of Truck Leasing Programs?
So, should you take this risk too? The truth is that this is a personal decision, especially since it’s not all as easy as it looks.
One of the most compelling reasons to consider a truck leasing program is the potential for higher earnings. While it’s true that as a company driver, you enjoy steady income and benefits like retirement plans and insurance, the financial upside of leasing your truck can be significant.
Drivers who successfully navigate leasing programs can see a 10% to 30% increase in their income compared to company drivers.
However, this requires discipline, careful planning, and a willingness to embrace the responsibilities that come with being your own boss. While on a truck leasing program, you lose all your employee benefits.
Can You Really Make More Money as a Company Driver?
The short answer is yes, but it’s not without its challenges. Leasing a truck means you are responsible for payments, insurance, fuel, maintenance, and saving money to eventually pay off your truck.
It’s a risk, but one that can pay off if managed correctly. Keep in mind: that opting for a truck leasing program is not for everyone. It requires a commitment to handle additional responsibilities that come with being a lease contractor. So why should you consider taking this path?
- Higher Earning Potential: If done correctly, leasing can lead to significantly higher earnings.
- Be Your Own Boss: Enjoy the flexibility and autonomy that comes with running your own business.
- Low Initial Investment: Many leasing programs require no money down, making it easier to get started.
However, if you’re not ready for the change or lack the discipline needed to manage these responsibilities, remaining a company driver might be a better option.
Think Like a Business Owner, Start Your Trucking Career
Transitioning to a lease program requires a shift in mindset. Thinking like an entrepreneur can prepare you for the challenges and opportunities ahead. Here are a few tips to help you succeed
- Plan and Budget: Manage your finances carefully, accounting for all expenses, including maintenance and fuel.
- Seek Mentorship: Find someone who can help you navigate your contract and offer guidance.
- Gain Experience: Start as a company driver to build your skills and knowledge before transitioning to a lease program.
Two Common Truck Leasing Programs
So, if you have finally made the decision to start your career as a truck lease driver, yuu frits need to consider a lease program that fits your needs. It’s essential to understand the two most common payment structures:
Cents Per Mile Pay
Ideal for beginners, this structure offers steady, predictable income. It’s a great way to ease into leasing while gaining valuable experience.
The payment is based on the number of miles driven and can vary depending on factors such as type of freight, location, and seasonality.
Percentage Mileage
As you become more experienced, you might opt for a percentage of the pay. This structure can be more lucrative but requires a good understanding of the best lanes and traffic zones.
It also allows for more control over your income as you can negotiate higher rates with carriers.
When considering a lease program, it’s important to carefully evaluate the payment structure and choose one that aligns with your experience level.
Keep in mind that both options have their pros and cons, do your proper research and consult with experienced drivers before making a decision.
How to Start? Trucking Companies with Lease Purchase Programs
Getting started with a truck leasing program doesn’t have to be overwhelming; in fact, it’s one of the easiest choices to start having financial freedom, being your own boss, and earning more money without the need for a down payment.
Here’s a step-by-step guide:
- Research: Look for trucking companies with lease purchase programs that fit your needs.
- Gain Experience: Start as a company driver to learn the ropes before transitioning to a lease program.
- Choose the Right Program: Select a leasing program that aligns with your career goals and financial situation.
- Stay Disciplined: Manage your finances carefully and stay committed to your long-term goals.
Start your Driver Career with a Lease Program at Chief Carriers
Truck leasing programs offer drivers a unique opportunity to take control of their careers, increase their income potential, and enjoy greater flexibility. While the path to success requires discipline and careful planning, the rewards can be substantial.
If you’re ready to take the next step in your driving career, explore our lease program options at Chief Carriers website.
Driven Too Far podcast is produced by Two Brothers Creative.
