Lease to Purchase
Looking for something new and exciting? Buchanan is currently seeking out drivers throughout the US. With Buchanan's Lease to Own Program, you can work your way up to ownership and all of its rewards. Yet, enjoy the support and structure of Buchanan's team. It's time to get in the driver's seat and Lease to Own.
What it means when you Lease To Own with buchanan
- 100 % of fuel surcharge, tarping, and stop pay passed on to the Lease Purchase driver
- Payroll is directly deposited into your bank account weekly
- Scan your Bills of Ladings from truck stops or by smartphone app
- Comdata fuel cards with $300.00 cash advance weekly
- We use Qualcomm (soon Samsara) & SmartDrive in all trucks
- Company-paid cargo and liability insurance
- No Charge for Trailers
- Tractor Only - 68% of the Gross Line Haul with Carrier's van, flatbed, or step-deck trailer
- Tractor Only - 65% of the Gross Line Haul with Carrier's trailer (other than van, flatbed, or step-deck i.e., double drop, multiple axles of 3 or more, stretch trailers, etc.)
- Tractor and Trailer - 75% of the Gross Line Haul
- Buchanan can provide your flatbed equipment (chains, binders, tarps, etc.) payable in weekly payments. Cost of flatbed equipment over $350.00 deducted weekly at 8% of total equipment cost plus 3% finance fee. Example: $1500.00 in equipment + 3% carrying cost ($45.00) = $1545.00 x 8% = $123.60 weekly deduction until paid in full.
- Lease Payment - Depends on the year, make model, and mileage of the tractor
- Multiple lengths leases are offered. 3, 4, or 5-year leases are available. Tractor payments vary depending on the lease length.
- Weekly Maintenance Deduction - $200.00 for the duration of the lease agreement
- Base Plate Program - $45.00 deducted weekly
- Heavy Haul Plate - $47.50 deducted weekly
- Escrow Account - $100.00 deducted weekly for 20 weeks ($2,000.00)
- Security Reserve - $50.00 deducted weekly for 40 weeks ($2000)
- IFTA Fuel Taxes - $15.00 per week, every 90 days a report is provided if you purchased enough fuel in the states in which you traveled your fuel tax escrow is refunded
- IRS 2290 - $10.58 per week
- Trippak/Transflo - $5.00 per week
- Administrative fee - $5.00 per week
- Physical Damage – 4.39% of insured value, then divide by 52 for weekly deduction
- Bobtail/Non-Trucking - $8.00 per week deduction. This coverage is required.
- Mechanical Breakdown Insurance – $3.50 per week deduction
- Occupational Accident Insurance - $33.46 per week deduction. This coverage is required
Want to work for Buchanan? Here is what you need.
- Two years of verifiable experience with a class A CDL
Buchanan Specialized Transportation Services offers the same pay and benefits as highlighted above with the advantage of adding numerous lanes that are not available to our current non-HazMat drivers. To qualify for Specialized you must currently hold your HazMat and Tanker endorsements and have a valid and current TWIC card.
- 2 years of verifiable experience with a class A CDL
- Must currently hold your HazMat and Tanker endorsements
- Must have a valid and current TWIC card
*Additional requirements for qualifications may be imposed. No determination can be made on your eligibility until your qualification paperwork is received and reviewed by a Buchanan representative in Fort Wayne, IN.