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Best Trucking Company With Lease Purchase Program

If you want to become an owner-operator truck driver, finding a trucking company with a lease-purchase program is a perfect way to get started. While you might have numerous questions, one of the biggest concerns that many aspiring owner-operators have is whether to buy a new or a used truck. 

As of 2021, a used truck costs around $52,388 while a new truck is often closer to $70,000 or more. These prices only continue to increase over time, which is the main reason why lease purchase programs are so appealing. 

Keep reading to learn more about the many benefits of a lease-purchase program! We’ll also tell you all about the best trucking company with a lease-purchase program.

Quicklook: Best Trucking Company with Lease Purchase Program

  • Best For Fleet Expansion: PAM Transport – Match Now
  • Best For Schedule Flexibility: Schneider – Match Now
  • Best For Female Drivers: Ryder – Match Now
  • Best For Full-Service Maintenance Program: Riverside Transport – Match Now
  • Best For Company Maintenance Coverage: KSM Carrier Group – Match Now

Top 5 Lease Purchase Trucking Companies

It can be hard to choose a company to lease your truck from because there are so many trucking companies out there. In an effort to help you narrow down your options, we’ve listed some of the best lease purchase trucking firms in the industry.

The following companies offer impressive lease purchase programs for drivers like you. Let’s take a look at who has some of the best lease purchase programs in the trucking industry! 

PAM Transport 

PAM Cartage Carriers’ overdrive lease program provides an easy, accessible, and transparent solution for drivers who want to become owner-operators or owner-operators who want to expand their existing businesses. 

Best For: Fleet Expansion


  • Comparatively-low monthly payments
  • No hidden costs 
  • Paid-for Licensing and permitting fees
  • Corporate fuel rates
  • Access to company shop rates for repairs and maintenance


  • Drivers have to pay for their fuel, which is the biggest expense in the trucking industry
  • Drivers must carry liability insurance
  • Drivers are required to pay federal taxes 
  • Drivers bear all of the repair and maintenance costs

Average monthly payment:

  • Fully-equipped 2018 trucks at $379 per week 
  • Fully-equipped 2019 trucks at $599 per week for solo drivers


Starting back in 1935 with one truck and a dream, Schneider now has a fleet of over 9,000 company trucks and 2,800 owner-operator businesses. Their All-In Revenue Choice Lease program gives drivers all of the benefits of working as an independent contractor without any of the risks. 

Best For: Schedule Flexibility


  • Used or trucks available for lease
  • Dedicated loads
  • Spot freight  
  • All-in rate or flat rate  
  • Insurance discounts
  • Select maintenance coverage


  • Drivers are responsible for most fees, including: 
    • Monthly payments
    • Down payments 
    • Insurance fees
    • Approval costs
    • Closing fees
    • Vehicle equipment costs

Average monthly payment: 

  • Between $1600 to $2500 per month


Ryder offers high-quality trucks to its drivers as part of its robust semi-truck leasing program. The company also offers a female-friendly vehicle package. By working with various Original Equipment Manufacturers (OEMs) and the Women in Trucking Association (WIT), Ryder has improved 15 different design specifications to accommodate the smaller builds of women.

Best For: Female Drivers


  • Flexible commercial truck leasing options 
  • Female-friendly vehicle packages 
  • Offers a brand new Volvo VNL 670 or Freightliner Cascadia 
  • Low monthly lease costs
  • Maintenance and warranty covered


  • Drivers are responsible for most fees, including: 
    • Monthly payments
    • Down payments 
    • Insurance fees
    • Approval costs
    • Closing fees
    • Vehicle equipment costs

Average monthly payment: 

  • Between $2500 to $2700 per month

Riverside Transport

Riverside Transport is another lease purchase trucking company, offering a full-service maintenance program, eliminating the need to pay huge repair bills. 

Best For: Full-Service Maintenance Program


  • Covers most maintenance costs like batteries, tows, motors, and transmission
  • Refunds available for expenses upon lease completion 


  • Riverside lacks weekend help and support

Average monthly payment: 

  • $738 weekly fixed rates 
  • $.30 per mile

KSM Carrier Group

KSM, one of the top lease purchase trucking companies, has lease purchase programs that focus on empowering people who want to start their own business but lack the financial means to do so. KSM offers flexible payment options and schedules to help owner-operators as much as possible. 

Best For: Company Maintenance Coverage


  • Offers paid cargo and liability insurance
  • Company covers maintenance costs for the truck
  • Discounted tire rates 
  • No credit check 
  • No trailer fees 


  • Cannot lease a truck unless you are 23 years old 
  • Requires you to have two years of OTR experience

Pay rate

  • 74% to 82% gross revenue
  • $1 buyout 
  • Safety bonus
  • Direct deposit
  • Insurance
  • Weekly payments 
  • Retirement plans

What Is a Lease Purchase Program?

A lease purchase program lets drivers lease trucks from carriers. With a lease-purchase program, drivers pay legally entitled transport providers a fee that permits the drivers to lease a truck. 

After signing a leasing agreement, you’ll have to keep up with your payments on a monthly basis. When you make all of your lease payments and the lease expires, you can either return or purchase the truck that you’ve been renting. 

Lease Purchase Truck Driver vs Owner Operator Truck Driver

Both an owner-operator truck driver and a lease-purchase driver are fully accountable for their operations. Unlike company drivers, owner-operator drivers and lease purchase drivers have to bear the costs of operating the vehicle. 

However, owner-operator truck drivers do not have to adhere to lease payments or pay any type of rent to the carrier because these drivers own their vehicles outright. As such, they have more earning potential than lease-purchase drivers.  

Lease purchase operators are tied to the carrier that they lease their truck from, meaning they cannot haul their loads for other carriers. However, owner-operator drivers have complete control over the loads they transport. As such, they do not owe loyalty to any one company. 

Typically, a lease-purchase operator receives greater per-mile rates, or percent-of-load rates, than company drivers. However, lease purchase operators must also cover the costs of running the truck. These additional costs include fuel, repairs, maintenance, and insurance. 

Lease Purchase Program Factors To Consider

Choosing to lease your truck can sound very enticing, but you must understand what it takes to lease a truck before signing any agreements. 

No Money Down

Depending on the carrier, it might be possible to lease a truck with zero down payments. Ask providers about their no money down programs to see if a plan with zero down payments is possible. You’ll save a lot of money by avoiding a large down payment, and you can put that money towards equipment, fuel, or protective features like a dashcam. 

Low Upfront Costs

Compared to buying, it’s more convenient to lease a truck because leasing comes with the advantage of a lower upfront cost. Some companies may even cover maintenance costs, but the specifics will depend on your lease or contract. 

The cost of leasing a truck depends on the purchase price that the trucker and the carrier agree to in the lease contract. A carrier should have an International Fuel Tax Association (IFTA) license that is intended to cover leased owner-operators. As a result, the leasing firm will handle IFTA reports and taxes on the vehicle.

Classifies Drivers As Owner-Operator Truck Driver

Some lease purchase programs offer new drivers an owner-operator classification as soon as the drivers become part of their program. At the same time, other lease purchase programs can take longer, waiting up to a few months before they offer owner-operator classification to drivers. 

According to Haulhound, an independent owner-operator earns an average of $50,000 to $60,000 per year. If you are interested in earning more money annually, make it a point to look for programs that offer owner-operator classification to new drivers without any delays.

Flexible Schedule

Truck drivers are known for working long hours. Without a flexible schedule that works in their favor, these long hours can take a major toll on their lives and their finances. However, a truck driver who is also a lease-purchase operator is not bound to a specific schedule. 

Instead, lease purchase operators can choose their own routes and set their own schedules. With the ability to choose their own schedules, lease purchase operators can plan their hours in a way that lets them take vacations or attend special occasions that they would’ve otherwise missed.

Offers Multiple Lease Options

There are various lease options when it comes to a lease-purchase program. Every option has its perks, and you get to choose the option that suits you best. The most common lease options are capital leases and operating leases. 

One of the most significant advantages of a capital lease is that the vehicle is considered an asset. Additionally, you can depreciate the asset when you submit your taxes. On the other hand, with an operating lease, a vehicle is not considered an asset. 

Therefore, you cannot claim any deductions from your taxes when you lease a vehicle under an operating lease. However, you might be able to write off your monthly rent as an expense depending on the terms of your lease contract.

Solid Benefit and Incentive Program

When a truck driver leases a vehicle from a trucking company and agrees to work for them as an independent contractor, the company might offer incentive programs. Whether it’s taking on the responsibility of paying for permits or making sure license plates are up to date, companies that take care of regulations on behalf of the driver are more incentivizing. 

Most companies will either fully or partially cover the maintenance and training costs for their drivers as well. For example, PAM transport provides great perks, like corporate fuel costs and shop rates, that help to lower the trucker’s expenses overall. 

Lease To Own a Truck Now

Choosing to lease a truck is an important decision. It can lead to a variety of opportunities, but only if you choose a trucking company with a lease program that suits you well. We recommend that you take your time and consider all of the available options before you commit to any one of these lease purchase trucking companies.

Having access to a truck is just one of the many steps that will lead you to own a profitable business. In addition to a truck, you will also need a variety of tools that will increase your productivity and maximize your earnings in the long run. 

An all-in-one ELD devices can be pivotal in streamlining all facets of driving. From GPS tracking and mileage tracking to logged hours and fuel usage tracking, ELDs make sure your drivers are FMCSA-compliant at all times. 

Look into your options before you lease to own. Before you know it, you could be running a profitable business!

Truck leases for as low as $525 a week with Roehl

Designed to give experienced drivers or previous lease purchase/owner operators with limited financial resources a pathway into truck ownership.

Truck leases for as low as $525 a week with Roehl

Designed to give experienced drivers or previous lease purchase/owner operators with limited financial resources a pathway into truck ownership.