About This Site

In general, it is seen that when getting the loads off, owner-operators have two general options that they can select. Some of the owner-operators rely on public load boards. On the other hand, some of them work with brokers such that access to spot market can be gained.

On the other hand, some of the owner-operators lease with a carrier. This means the freight needs to be dispatched by a carrier or perhaps select it from a private load board.

So, if you are looking for semi truck leasing, then VHub as a broker can help you connect with many companies. Moreover, leasing with a company can provide you with predictability & stability which can help your business to grow. Thus, in this blog, we would talk about how to lease semi-truck to a company. Let us have a look:-

5 steps through which you can lease a semi-truck to a company:-

Understanding “leasing-to” Vs. “leasing-on with”

The terms “Leasing to” and “Leasing-on with” are quite interchangeable. It is seen that a number of owner-operators tend to lease their truck to trucking company. This arguably means that they are doing business with a particular company for moving the freight but not working with them directly.

So, they are more like a contractor. However, on the other hand “leasing from” means you are leasing a semi-truck from a particular company.

Type of Freight

If you are looking to lease semi-truck to a company, then make sure that that particular company is offering you the right kind of business opportunity. Some of the options that you can opt for are dry van truckload, shipping containers, tanker loads to name a few.

So, depending on the kind of freight that you haul, you would probably need right set of equipment and qualifications/experience in perhaps doing so.

Experience & Necessary qualifications

Most of the companies would need the owner-operators to have some kinds of qualifications. These includes:-

• Certain driving experience
• Having commercial Driver’s license
• Having a tractor manufactured in particular year or newer

So, if you are looking out for business opportunity, then research on website of the company that you are applying. You can also call the recruiters to enquire about the same.

Obtaining a truck & doing the necessary documentation

As we have mentioned above, owner-operators can lease a semi-truck or purchase the one from a company. So, it is up to you to decide about the things that can be best for your business. But, you should keep in mind that the company that you lease-on would have specific requirements that need to fulfill.

Getting the necessary documentation is very important and hence you need to buy licenses, permits, endorsements etc. Besides this, it is important to have truck insurance as well.

Look out for business opportunity

You need to decide on the freight that you wish to haul, meet the leasing requirement and have a semi-truck. Once you have done this, then you should start looking out for the business opportunity that you are interested. You can possibly do is apply for business opportunity by visiting the websites of the organizations that you are interested.

Can a semi-truck be leased to a company?

Semi-truck leasing is perhaps a way in which someone else would use your vehicle for a certain amount & period. In this type of leasing, the ownership would remain with you. Further, you will get the vehicle back once the lease period is over.

So, if you are starting a career or don’t want to drive it, then leasing is a good option. In this way, you can lower down the financial commitment & risk of ownership.

How semi truck leasing work?

It is seen that commercial truck leasing company lease the vehicles at a much higher rate than their monthly expenses. Hence, they are able to generate great profit. Moreover, they keep the vehicle ownership with them.

In this way, they don’t have to pay any maintenance expenses and they are able to write-offs on depreciating asset. So, if you want to lease your semi-truck, then you would probably need three things. These include lease contract, semi-truck and a company for leasing.

Other than this, it is important to consider the cost to operate & own the vehicle. These include tire replacement, regular maintenance, insurance etc.
Moreover, you also need to consider if you want to include roadside assistance, warranty etc. within the lease contract.

Also, with regards to lease terms, you need to decide upon the payment options & term duration. This includes security deposit/down payment etc. All of these can come handy in case of negligent damage or default which may not be covered by insurance. Lastly, ensure that everything is written in the lease contract and perhaps signed by both the parties.

What are the benefits of leasing a semi-truck?

Low upfront cost

Buying a truck can be expensive as compared to leasing it. This means that you can get hold of a semi-truck sooner as compared to saving for months. Additionally, if you have a bad credit score, then you won’t be able to fetch loan as well.

Short commitment

If you lease a semi-truck, then it is far less a commitment as compared to buying it. Moreover, if you are new in the trucking industry, then leasing can be good option for you. The reason is that you easily would be able to switch the career path.

On the other hand, if you purchase, then you would have to go through the challenge of selling the semi-truck. Hence, with leasing you just have terminating the lease.

Less Risky

Leasing a semi-truck rather than buying can turn out to be less of a financial risk. You would be able to know the amount you need to pay every month. Hence, it can present to you a lot more flexibility.

Less Maintenance

If you lease a semi-truck, then you would have to pay less for maintenance purposes as compared to owning it.

Upgraded easily

If you lease a semi-truck, then you get the option to upgrade it with a new truck having a number of features.

Final Verdict

Are you looking to lease a semi-truck to a company? If, yes, then look no further than vHub. We are highly experienced with regards to leasing truck and hence we can help you choose a right company. So, you can contact with us today to know about the services that we offer.