CDL – A Lease Purchase Drivers
Offering the Best Lease Purchase Program in the Industry
As a leading North American transportation service provider (and Canada’s largest private transportation company), the TransX Group of Companies provides a complete slate of transportation and logistics services for businesses of all sizes. We specialize in providing customized solutions tailored to the way our customers do business, which has helped us become the trusted transportation partner of many of North America’s largest shippers.
- Average 3,000 miles weekly
- Out 10-14 days
- 2018-2019 579 Peterbilts (Own a 2018 in 2-2.5 years or a 2019 in 3.5 years)
- Weekly Deducations: $600 truck / $96 insurance / 7 cpm maintenance account
- All work on your truck comes out of the maintenance account
- All additional expenses paid by the company
- Current CDL-A
- At least 23 years of age
- Minimum 6 months CDL A driving experience in past 3 years
- No more than 3 MVR violations in past 3 years or DUIs in past 5 years
or call 844-645-0001
The information below provides insight into how being a Lease-Purchase driver may meet your expected lifestyle, work into your long-term career plans, and provide the working environment you seek.
What is a Lease-Purchase Driver?
Lease-Purchase drivers (LPDs) are drivers who often have experience driving for a carrier or company but are interested in taking a step toward greater independence and eventually taking outright ownership of their equipment. Lease Purchase drivers have more control over work hours, jobs accepted, and routes driven than Company Drivers, but not as much control as Owner-Operators.
Carriers frequently offer lease purchase options to drivers. Under a Lease-Purchase arrangement, the carrier likely owns the truck but enters into an agreement with the driver in which the truck is leased to the driver for a fixed or variable fee (as specified in the least agreement). The driver pays the leasing fee, a portion of which goes to pay down the “principal” and a portion goes to an agreed upon interest rate. If the driver remains with the lease long enough, the full original value of the truck will be paid off, and the driver assumes ownership of the truck.
A driver exploring lease-purchase arrangement should research various carriers or company-specific information. They should compare the pros and cons of each, look closely at those that appear to best match their level of acceptable risk, their abilities to operate a business, their forecasted expenses, and their lifestyle.
What are some personal characteristics helpful for Lease-Purchase Drivers?
Lease-Purchase drivers will find that a blend of traits needed of Company Drivers and Owner Operators will serve them well as they take a step toward self-employment. Aside from the personal characteristics needed to be a good truck driver, lease-purchase drivers are also faced with the need for business savvy, accounting and bookkeeping knowledge, experience with taxes, and an ability to remain up to date with current and forecast trends in the freight transport industries.
For additional information about Lease-Purchase Drivers, including what is a Lease-Purchase Driver, pathways to securing a driving job, financial investment requirements, personal characteristics, average salaries and compensation structures of Lease-Purchase Drivers, visit Truck Driving Job Resources.
Different types of materials require different types of trailers, and each type of trailer offers drivers its own challenges. Therefore, it is important to understand what is required to not only drive your truck and your freight, but the trailer you are pulling as well.
What is “reefer” or “refrigerated” hauling?
Refrigerated trailers are those most often hauling food products that must be kept at low temperatures to prevent perishing. Drivers of reefers may operation within a region, or they may travel cross-country routes in performing their jobs. Driving a reefer, as opposed to a dry van, requires additional skills and responsibilities. Monitoring temperatures within the trailer is a vital task of reefer drivers, as if they vary from a specific range as determined by the product carried. Drivers should be skilled in identifying problems with equipment and making minor repairs as well as calling and waiting for repair help. A reefer driver may make several stops along a route to offload products at grocery stores, convenience stores, and other retail locations.
What characteristics does a reefer/refrigerated driver need?
Along with the personality traits need for most driving positions, reefer drivers need to realize and accept the level of responsibility involved in hauling refrigerated products. Depending on the product, a reefer may carry products with a total value of hundreds of thousands of dollars to retailers that rely on a steady supply of refrigerated items to meet consumer demand. Delays in shipments hurt the carriers as well as the retailers.
Often, reefer drivers will be responsible for offloading a certain number of boxes or cargo at various locations. A level of strength and endurance is necessary, as is a conscious effort to protect the product from breaking, being crush, or otherwise damaged.
What endorsements are needed to haul refrigerated goods?Reefer drivers can typically perform their jobs with a CDL appropriate for the truck being driven. No specific endorsements are normally required unless the trailers use atypical refrigeration systems involving hazardous materials.
For more information about Reefer/Refrigerated Hauling, including what type of companies hire, job requirements, compensation structures, what endorsements are needed, visit Truck Driving Job Resources.
Truck driving route type vary within the industry and are dependent on several factors including interstate trucking requirements, route planning, type of cargo hauled, frequency, hazardous materials restrictions, driver experience, etc.
Over the Road (OTR) Routes are likely those that most people with minimal knowledge of the trucking industry envision drivers working. OTR routes can be regional with occasional outside of region assignments or they may be cross-country to make one delivery or several along the way. OTR drivers are generally paid by the mile and are on the road for much of the year with limited home time.