Content Sponsored by USA Truck
Lease purchase programs are becoming increasingly popular — and for good reason. They give business-savy drivers a clear path to work towards their dream of owning a truck.
Entering into a lease purchase program is a big step, and it’s important to make sure that you’re ready before you make a commitment and start on your path towards truck ownership.
Here are 6 signs that you’re ready to move forward with a lease purchase program.
- You’re ready to treat trucking as a business and act like a business owner. Entering into a lease purchase program is a huge opportunity, but you need to come into it with the correct mindset. Budgeting, looking ahead to the future, and planning for setbacks are now part of your workday — and if you’re not ready to take on that responsibility, you should hold off.
- You’ve read the fine print. Starting your own business is a matter of risk and reward, and you owe it to yourself to be as informed as humanly possible before you sign anything.
- You have a handle on taxes and bookkeeping. Will you need to file your Form 2290 Highway Use Tax form? Do you know how? Can you get help? Make sure that you’ve got your tax and financial responsibilities figured out — and don’t be afraid to hire a professional to help.
- You’ve seen that there are drivers involved in a company’s lease purchase program who have a title in hand. Part of your research into a company’s lease purchase program should be to find other drivers who have had success doing what you plan to do.
- You’ve determined that the type of support offered by the company fits your needs. Some companies offer lease purchase drivers extensive services to help them succeed while other allow their lease purchase drivers more freedom. Make sure that that you figure out if the company you’re entering into a lease purchase agreement with is a good fit from a support standpoint.
- You’ve made sure that you and your family are ready for the commitment involved in lease purchase. Make sure that your loved ones understand how lease purchase works and what it will mean for your trucking career.
We wish you the best on your lease purchase journey, drivers!