I Want to Lease my Truck to a Company: How does it work?

I Want to Lease my Truck to a Company: How does it work?

[vc_row][vc_column][vc_column_text]Disclaimer: This article is for informational purposes only. Truck Freighter does not guarantee the accuracy of the information. This information is not to be considered as legal advice. Please seek the counsel of a legal professional before signing onto a lease agreement with a motor carrier.

I Want to Lease my Truck to A Company. How does it work?

Leasing onto a carrier means a truck owner who also drives his/her truck is agreeing to contract transport services to a motor carrier. “Leasing on” is different from “lease” and “lease purchase”. An agreement that governs leasing onto a trucking company is still referred to as a lease agreement. In a scenario where the operator owns his truck then he/she is declared the lessor in the agreement because he/she is contracting service out to the lessee (carrier).

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It is required for the lessee to spell out how costs associated with fuel, fuel taxes, permits, empty miles, tolls, ferries, detention, layover, base plates, and insurance. Who pays for fuel and insurance are one of the primary determining factors that will classify an owner operator as an employee or independent contractor under federal or state/provincial employment standards law. Therefore, if your truck operation is more of an independent contractor arrangement, it can change. An independent contractor acts more like a traditional business owner in the sense that they can provide services to multiple customers (carriers). Dependent contractors are not covered under Part III of the Canada Labor Code and are not entitled to tax contributions. Most dependent contractors are classified as individual business owners or commonly referred to as sole proprietors. Violations and infractions that the owner operator is responsible for directly impacts the NSC profile of the carrier the O/O is leased onto. Most owner-operators are still considered employees for tax purposes and therefore federal pension and employment insurance with-holdings/contributions are required.

Overweight trailer fines can be the responsibility of the owner operator if they do not scale the trailer’s weight before departure, especially if it is written in the lease agreement. An owner operator works much like a company driver, but the primary difference is they own their own truck, and the budget the carrier would otherwise spend on maintenance is allocated to the O/O through an increased wage. Therefore, if an owner-operator can manage to take diligent care of his truck, he can pocket the extra monies that would otherwise be spent on repairs.

i-want-to-lease-my-truck-to-a-companyFollowing the signage of the lease agreement by both the carrier and owner operator, a receipt of equipment statement needs to be completed. This declares the vehicle is under the carrier’s control. At this point in time the carrier is responsible for mechanical violations and for establishing a maintenance program for the truck.

In future articles we will discuss how a trucking company owner operator lease agreement is to be drafted. If you have title ownership of a semi-truck and are thinking: “I want to lease my truck to a company”, then this information should be basic grounds to beginning your journey as an owner operator.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_posts_slider count=”1″ interval=”0″ slides_content=”teaser” slides_title=”1″ title=”Recommended” posttypes=”page” posts_in=”629″][/vc_column][/vc_row]

51 Replies to “I Want to Lease my Truck to a Company: How does it work?”

  1. Hi My Name is Ranae and I Have my Own Diesel I was trying to lease it out. I Was interested On How this Works if Someone Can please Give Me some kind of Feedback on the Steps To Take. . Thank You So Much

  2. I would like to lease my semi truck to a company how does that work.

    1. My husband owns a trucking company. Give us a call we can help you.

      1. HI Andre, Can you please give me the number for the trucking company your husband owns?

        Thanks
        tim

      2. Hi Andre,

        I have a 16′ Box truck Chevy Cutaway 4500 with Stabilitrak that only has 18,500 miles. I just bought this in September and was contracted with Diligent USA for Goodyear who merged with Firestone and they bought Dapper Tire delivery and proceeded to mess up the logistics and they finally had to cut costs and hired hourly people for their distribution centers and canceled 24 of us Independent Owner Operators. My truck seems to be the wrong size for most opportunities for owner operators who want 24-28′ box trucks and semis or Sprinter Vans. I have decided to see if I can have someone or a company take over the lease. Do you think you and your husband can help? I would be willing to pay a Finder’s Fee upon closing of the deal. Thank you

        1. Hey Sterling can you please give me a call my name is Jesse, if you still have your trucks. Thank you 316-260-5074, I have a carrier/broker company and I think my partners and i could use your truck, just need some more information from you. Thank you

          1. Hi
            I have a truck and trailer I am intrested in leasing out. Do you also offer an option for your driver to work as an employee on the truck that is leased? Or is it strictly for owner operators only.

          2. Hi, I am currently getting into the business as completely new and would like to find some companies to contract with. I have a 2014 Ram 3500 (SRW) diesel and can use my own flatbed gooseneck or run any trailer you’d like. I am completely set up for 5th wheel, gooseneck, or anything that you need.

          3. Hello, I’m about to buy a truck to lease to companies. I’m not sure how to go about it but I’m willing to work together. I personally won’t be driving the truck because I don’t know how. I’m just want to do something for a passive income. Pls txt or call me at+13237888423

          4. Could I lease my truck to the company?

      3. I will like to call you if you can provide your number, I need advice from you.

        1. My name is Tricia reyes I haven’t had any luck yet I have an 18 wheeler and that is my only source of income at the moment I’m a single mother of three going through a divorce and I really need a driver or someone to lease it can you please call me at 912 604-8704 if you can help

          1. what state are you in

          2. Hi Tricia,

            I am messaging you to see if you were able to get a good response to your posting. I am a single mother also and am looking for answers too. Is it ok for me to call you?

      4. Hi Andre,
        Can you please reach out to me through oluwafs@outlook.com
        I am interested.

        1. Hello, I’m about to buy a truck to lease to companies. I’m not sure how to go about it but I’m willing to work together. I personally won’t be driving the truck because I don’t know how. I’m just want to do something for a passive income. Pls txt or call me at+13237888423

          1. Have you had any luck?
            I’m also an owner not driving, and I’m looking to lease my truck. I have a driver in place.

        2. I have a Volvo 2014 I will like to lease to a company. If you are interested please call me on 5592317000,,,,,

      5. Where is your husbands company based out of ?

        1. Hello my name is Jerry I have a semi trailer that I would like to least to a company If you are interested please leave me a phone number for e-mail so we can talk about it

      6. Hello Andrea, what would be the best number to reach you at?

      7. Good day sir. I have a 26′ foot box truck and is looking at leasing it out to a company. email is ntsefvort@gmail.com. Thanks and wait to hear from you.

      8. I have a big rig truck i want to sign on can i get the number to call you.

      9. Hi Andre, my husband owns a truck and is looking to lease on to someone. If you still have openings available. please contact him.. debo6467@gmail.com or 443 210 2018.

      10. i am interested in purchasing a truck and leasing it out i do not have a c.d.l and would be hiring a driver i would appreciate any help you can give me on getting start please email me at w.r.c.c.p.llc1020@gmail.com

      11. What’s your number?

      12. Hello, can you please call me 832-203-5992/ 832-870-1384 ginasilva20@gmail.com My name is Gina

      13. Andre Johnson Please give me a call 832-817-0068

  3. I own an 18 Wheeler and don’t have CDL.
    How can I rent my truck to a company.
    Please give me some advices.

    1. Hey Shaun can you please give me a call my name is Jesse, if you still have your truck. Thank you 316-260-5074, I have a carrier/broker company and I think my partners and i could use your truck, just need some more information from you. Thank you

  4. I also I own an 18 Wheeler and don’t have CDL.
    How can I rent my truck to a company.
    Please give me some advices.

  5. My husband owns a truck and we are looking to lease onto a company in Northern California or Northern Louisiana. Are there and suggestions for companies to reach out too?

  6. I have 13 trucks with dry van trailers. Does anyone know a company I can lease my trucks to.
    Thank you

  7. Hi,
    My name is Charles Murvee. I am the owner of Chanel Transport LLC. I have two 26 ft Box trucks that I’m looking to lease. A 2013 International 4300 and a 2012 Freightliner. I am located in Yeadon Pa. My contact is 804 255 5418. Trucks are well taken care of. I have a driver tracking device installed in both trucks.

  8. Hello Jesse,
    My name is Chris. May I give you a call? I would like some info on how to lease out a semi truck to a/or your company.
    Thank You.

  9. i have a 2011 ford f450 and a 3 car kaufman trailer im located in florida, im looking for a company to lease onto

  10. i have a 2012 3500 Dodge Ram truck I am looking to lease out..email me if interested…Previously used for hotshot business. magdelinawilliams@yahoo.com

    1. I have an 18 wheeler how can I lease my truck to a company?

  11. HI, My Husband has 2012 freightliner 26ft box truck and trying to lease it out to the company, would you let me know if anyone interested please.

    1. Hi am interested in leasing your truck,Give me a call at 4803347893

  12. Hello i have a 2015 Tractor in good condition look up for a company or somebody I can lease it to. Tou can teach me at 3479776345

    1. I have a 1985 freightliner truck, need to lease it out to a company or organization that may need it. I can easily be reached at 3024658253. This truck runs and perfectly drives.

  13. I have a semi I am looking to lease and I would like further information on how to do it please.

  14. Hi if anyone is in Williston ND or within an hour get at me
    gandaresources@gmail.com

  15. I need to lease out my dually to my hotshot son who’s dually is presently dead in South Dakota. It’s oil left in a hurry and there went the bearings. What kind of paperwork form would we use to lease my rig to his LLC so he can keep on running? Thanx

  16. I think it’s helpful that the lessee has to spell out the cost of fuel and things like that. Then potential buyers will be able to find a truck that costs the least and is the most fuel-efficient. I know that when I go looking for cars, I’m looking at mileage more than aesthetics.

  17. Hello,
    We have 2 18 wheel trucks ready to haul what ever you might need. Please contact me at 775-232-6083. Thank you

  18. Hello,
    I got my CDL 2 months ago and now working for Construction company with their automatic’s truck.I would like to buy my own truck and work with own truck for another company, who can help me to figure out how can I start?

  19. Hi my is Jayson I’m from Toledo Ohio I was looking into buying a semi and leasing it to a company I would like more information

    1. Jayson can you give me a call 832-817-0068 Gina

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