If you would love to be responsible for your very own rig, you might be thinking about leasing a semi truck rather than just working as a driver for a specific company. There are a lot of leasing programs out there for drivers just like you, and many of them can seem highly appealing.
For example, some leasing programs for drivers involve low down payments and relaxed credit requirements. This can make it easier than ever for you to lease a truck and can cause you to sign the dotted line without thinking things all the way through. But to ensure that you are satisfied with your lease agreement, make sure that you check your contract for these three things. Otherwise, you might be better off going with another leasing program.
1. Reasonable Payments
A lot of lease agreements include low down payments, which can be enough to get drivers excited about these programs. However, you have to think beyond today and think about the payments that you will be making each and every month throughout the contract. Make sure that the payments are reasonable and affordable; you do not want to be stuck in a lease that you cannot afford.
2. Reasonable Insurance Fees
Obviously, you are required to carry insurance when you lease a truck. The difference between leasing and buying, however, is that the leasing company can dictate the type of insurance that you have to have and the company that you have to have it through. This can result in you being forced to purchase overly expensive insurance, which can obviously be a problem that you might not have budgeted for. Ask about the insurance coverage that you will be expected to have, and compare the pricing with similar insurance from other carriers. This can help you determine if you are being overcharged.
3. Access to Repair Money
Even though your average lease does come with repair money that is supposed to be used for tires and repairs, some lease agreements make it virtually impossible for you to actually access these funds. Find out how tough it will be for you to access this repair money, and look for an agreement that will allow you to get the money if you need it without having to pay too much out of pocket first.
A lease agreement can be a wonderful thing, but you have to watch out for certain things when reading your contract. These are a few things that you should check your contract for before leasing a semi truck.
For more information and options, contact a leasing truck company, such as Decatur Trailer Sales & Service Inc.