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Best Lease Purchase Companies that Pay Percentage of a Load

Lease purchase plans are a great way to become an owner-operator of your own semitruck. Most companies offer plans that don’t require credit checks or large down payments. But there is more to the agreement than you may realize. With this in mind, there are some crucial facts you must understand before signing a contract. Keep reading for these tips, and to learn about the best lease purchase companies that pay percentage options.

Quicklook: Best Lease Purchase Trucking Companies

  • Best for Drivers with 2+ Years of Experience: KSM
  • Best for Owner-Operators and New Drivers: USA Truck
  • Best for CDL A Drivers: J.B. Hunt
  • Best for Drivers Looking for Benefits: Swift

Best Lease Purchase Companies that Pay Percentage Options

Lease purchase trucking companies that pay a percentage of load offer a great option for drivers who want to transition from being company employees to owner-operators. 

Leasing allows drivers to learn how a company operates and become familiar with the freight lanes. It also eliminates the financial hardships involved in purchasing a rig outright.

Below are some of the best lease purchase trucking companies that pay a percentage in the U.S. today:




KSM

KSM logo

KSM provides industry-leading percentage pay for owner-operators and lease-purchase drivers. They are one of the most popular lease purchase trucking companies that pay percentage in the nation. 

Best For: Drivers with 2+ years experience

Percentage Pay Rate: 74$ to 82% gross revenue

Location: 

  • Headquartered in Griffith, Indiana
  • Operates in 48 states 

 Special Features:

  • New trailers available
  • Paid liability and cargo insurance
  • No credit check
  • No forced dispatch

Benefits: 

  • Loaner trucks available
  • Discounts on tires and maintenance
  • Safety bonuses 
  • Company-paid trailer maintenance

KSM specializes in dry van, reefer, and pharmaceutical freight shipping. The company places an emphasis on safety and driver support. 

USA Truck

usa truck

USA Truck is one of the most popular trucking companies that pay a percentage. It is a solid choice for owner-operators who want to grow their businesses. The company offers a lease-purchase plan that includes bonuses, an extensive benefits package, and an enhanced per diem plan.

Best For: Owner-operators and recent driving school graduates

Percentage Pay Rate: 65% plus fuel surcharge

Location: Headquartered in Van Buren, Arkansas with six terminals across the U.S. Operates in the continental U.S., Canada, and Mexico.

Special Features

  • Medical, dental, vision benefits
  • Employee assistance program
  • Seven paid holidays
  • Drive plus one rider program
  • Stock ownership program

Benefits: 

  • Larger pay packages
  • Pet-friendly packages
  • Loyalty pay
  • No forced dispatch
  • Flexible home time

USA Truck is a well-established company that has been doing business since 1983.

J.B. Hunt

jb hunt

With over 60 years of experience in the trucking industry, J.B. Hunt is an excellent choice for drivers who seek a rewarding, stable career in a lease purchase program.

Best For: CDL A drivers

Percentage Pay Rate: Mileage-based or percentage-based plans

Location: Headquartered in Lowell, Arkansas and operating in the U.S., Canada, and Mexico

Special Features:

  •  Discounts for insurance rates and fuel
  •  New and like-new used equipment
  •  Mileage-based or percentage-based plans
  •  Large, consistent freight base

Benefits:

  •  No forced dispatch
  •  Discounts on insurance rates 
  •  Fuel and tire discounts
  •  Roadside assistance discounts

J.B. Hunt helps truckers get started in the business regardless of their credit standing. Drivers can own their trucks within two years or less. 

Swift Transportation

Swift

Swift Transportation is well-known for its large fleet of trucks and streamlined lease-purchase contracts. It is one of the top choices among lease purchase trucking companies that pay a percentage.

Drivers who want to become owner-operators with benefits and retirement plans available should check into this company. Truckers can bring their own vehicle or lease a truck from the company and become an owner-operator within six months.  

Best For: Drivers Who Want Benefits or Retirement Plans

Percentage Pay Rate: Offers various options for drivers to choose from

Location: 

  • Headquartered in Phoenix, Arizona
  • Operates in 40 U.S. states

Special Features

  •  Trade or purchase the vehicle at lease end
  •  34 full-service terminals in the US
  •  Dedicated routes
  •  Medical, dental, and vision plans

Benefits: 

  •  Disability, life, accident, and critical illness insurance 
  •  Paid vacations 
  •  Stock purchase plans
  •  Paid weekly

What Is a Lease Purchase Company?

A lease purchase company allows drivers to purchase a truck without a significant down payment. Drivers pay monthly installments that range from $300 to $1,200 per month. 

At the end of the lease, a driver can choose to trade the vehicle in or purchase it. This option makes lease purchase plans an easy way to transition into being an owner-operator. 

How Does Percentage Pay Work?

Percentage pay is based on quality, efficiency, and safety, rather than hours. Drivers receive a percentage of the costs of each load. 

Most drivers prefer percentage pay because they can make more money in fewer hours and have more time at home. Most lease purchase programs are percentage pay plans.

What to Consider with Lease Purchasing and Percentage Pay

All lease-purchase plans are not created equal. The terms and conditions vary significantly from one carrier to another. To help you make the right choice, here are some of the main points to consider when entering a lease-purchase agreement.

Purchasing

Purchasing the truck at the end of a lease-purchase plan is optional. If you do choose to purchase it, you can refer back to the terms in the original agreement to determine the payoff amount and options. 

Easily Understood

Some carriers cover a percentage of certain costs. Also, many plans have a large balloon payment at the end of the lease, so you want to avoid that if you can. You should know how long the lease term is and how much of the payment is applied to the purchase price. Make sure you know who pays what before signing the agreement. 

Repairs and Maintenance

As a lease-purchase owner-operator you will be responsible for most expenses. You are purchasing the truck, so you are considered to be the owner. This makes you responsible for routine maintenance and repairs. 

Mileage Disputes

With lease purchase trucking companies, payment options are established and agreed on at the beginning of the contract. Options include mileage-based or percentage-based payment plans. 

Generally, percentage-paid drivers are more satisfied with their jobs. This arrangement prevents mileage disputes between the driver and the company, as well.

Capital Lease vs. Operating Lease

Capital leases are the same as debt. They depreciate over time and incur interest. The depreciation can be claimed on taxes and reduces taxable income.

An operating lease is similar to renting, with the payments treated as operating expenses. Therefore, lease payments are tax-deductible.

Drive and Own a Semi-Truck the Easy Way

All in all, lease purchase programs that pay a percentage are a great way to become an owner-operator. They can be the difference between driving long hours to save up for a down payment for your own truck and not having to do that. A lease purchase program lets you actually drive the truck while simultaneously earning money. 

FAQ

How Much Do Lease Purchase Truck Drivers Make?

Nationwide, the average annual pay for lease purchase drivers is around $110,256.

How Much Do Trucking Companies Charge to Lease One?

The average monthly payment for a leased truck ranges from $300 to $1,200. However, the exact value will depend on the age and the condition of the vehicle.

Do You Own the Truck After Lease-Purchase?

The individual leasing the vehicle has the option to purchase the vehicle at the end of the lease, but not before.

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