How to Lease Your Own Rig

So, you’re thinking about leasing your own rig? Taking matters into your own hands can be extremely rewarding when it comes to your job, as long as you are prepared. Keep these tips in mind if you are trying to decide whether or not to lease your own rig.

• Keep Your Finances In Mind. If you are someone who has always dreamed of owning your own truck, consider your finances before fully committing to leasing your own truck. It is important to understand the financial commitment that is involved with this process so you can be prepared for whatever comes your way. Be sure that you have put enough money aside to cover the large down payment, and that your credit rating is decent. Becoming financially stable before you begin will allow you to take bigger professional risks later on. It will also give you ease of mind knowing that you have enough to fall back on.
• Consider the Family. Taking on your own rig can be strenuous on your family and your relationships. Before becoming your own boss, it is important to make sure the entire family is on board. Leasing a truck is time-consuming, so plan on balancing the time you spend on work with the time you spend with your family. You are much more likely to be successful in your professional endeavors if you have a strong support system, trucking included!
• Hire a Legal Team. Even if all your finances are in place, you still may need some help with the legal aspects of becoming your own boss. It is important to consider the smaller details that are involved in leasing your own rig, and it may be worthwhile to invest in a team of experts to help you with your business model and legal considerations. You can never be too careful when it comes to your license, and having a team behind will ease your worries when it comes to legal hurdles.
• Owner Operator or Leased to a Carrier. If you are having trouble with the idea of securing your own operating authority to become an owner operator, you may want to look into leasing to a carrier first. Becoming an owner operator has a lot of perks, but you can also face obstacles that you may not fully understand. By leasing to a carrier, you can learn some of the most important aspects of the job, and when you decide to secure your own operating authority, you can do it right. Do some research on the pros and cons of both, and decide which option is right for you.
• Your Health Matters! Becoming an owner operator requires stable health and a sound mind. Mental and physical health are important in any job, but the strains of leasing your own rig can be extremely taxing. In order to keep your license, you need to have both intact. Throughout this process, you may be on the road for long periods of time, so it is important to keep your body in shape and your mind sharp.

If you have any questions, or need assistance with leasing your own truck, visit our website at Crossroads Equipment Lease and Finance or email us at sales@crlease.com