Buchanan’s Lease to Own Driver Program

How Buchanan's Lease to Own Program Works

Buchanan Hauling & Rigging's Lease to Own Program may provide experienced CDL-A drivers with a path toward operating as an Owner Operator when positions are available. Opportunities may include dry van, flatbed, Conestoga, heavy haul, and other freight based on driver qualifications and current needs.

Lease payments vary by truck model, year, and mileage, with lease terms available. Drivers are compensated through a percentage of gross line haul, with program costs and deductions outlined below. Before entering any lease agreement, drivers should review the exact truck, payment, maintenance, insurance, and ownership terms that apply to their individual agreement.

Lease to Own positions have limited openings and are based on current needs. Buchanan Hauling & Rigging, Inc. does not currently accept or hire SAP drivers.

If you have questions about current availability or the Lease to Own Program, contact Buchanan recruiting. Drivers ready to complete the full application can use the button below.

Home Time Options for Lease to Own Drivers

Home time options depend on location, freight, route type, and current operating needs. Available schedules may include:

• Home daily
• Home weekends
• Home every other weekend
• Home every 3 to 4 weekends

Lease to Own Pay and Driver Support

Drivers comparing lease to own trucking companies or lease purchase trucking programs should look beyond one advertised percentage. Fuel surcharge, accessorial pay, trailer costs, insurance, maintenance deductions, freight availability, and weekly expenses can all affect take home revenue.

Buchanan's current Lease to Own Program includes:

• 100% of applicable fuel surcharge, tarping pay, and stop pay passed to the driver
• Weekly direct deposit
• Bill of Lading submission by smartphone or truck stop scanner
• Comdata fuel cards with a $300 weekly cash advance
• Lease trucks equipped with Samsara and SmartDrive
• No trailer rental fees when using Buchanan trailers
• No cargo or liability insurance fees

Lease to Own Driver Qualifications

Drivers must meet Buchanan's qualification standards before being considered for an available Lease to Own position. Current requirements include:

• At least 1 year of recent verifiable Class A CDL experience
• No DOT preventable accidents in the last 36 months
• No more than 6 employers in the last 36 months
• No more than 1 speeding ticket in the last 36 months
• No cell phone violations in the last 36 months

Flatbed Lease to Own Opportunities

Experienced CDL-A Flatbed Drivers may qualify for flatbed Lease to Own opportunities when positions are available. Drivers comparing flatbed lease purchase companies should look at more than the percentage of line haul. Trailer costs, tarping and chaining compensation, maintenance deductions, freight availability, home time, and equipment requirements can all affect the value of the program.

Buchanan passes 100% of applicable tarping pay to Lease to Own drivers and does not charge a trailer rental fee when a Buchanan trailer is used. Flatbed availability depends on current freight needs and driver qualifications. Learn more in the FAQ about Buchanan flatbed Lease to Own opportunities.

Dry Van and Other Lease to Own Opportunities

Buchanan may also have dry van Lease to Own opportunities for qualified CDL-A drivers when positions are available. Freight opportunities can vary by location, experience, and current operating needs.

Drivers interested in dry van can review the FAQ about Buchanan dry van Lease to Own opportunities. Drivers considering other freight types should contact recruiting to ask which Lease to Own positions are currently available.

Specialized and Heavy Haul Opportunities

Specialized and heavy haul opportunities may have additional qualification requirements because of the freight, equipment, and operating demands involved. Current specialized requirements listed by Buchanan include:

• HazMat and Tanker endorsements
• Valid TWIC card
• 2 years of verifiable Class A CDL experience

Drivers interested in specialized or heavy haul Lease to Own opportunities should confirm current requirements and availability with Buchanan recruiting before applying.

Lease to Own Earnings Structure

Buchanan's percentage based compensation varies by equipment setup. Current program information lists:

Standard Setup: 68% of Gross Line Haul

• No trailer rental fees
• No Samsara or E-log fees
• No cargo or liability insurance fees

RGN or Larger Pulls: 65% of Gross Line Haul

• No trailer rental fees
• No Samsara or E-log fees
• No cargo or liability insurance fees

Using Your Own Trailer: 75% of Gross Line Haul

• No Samsara or E-log fees
• No cargo or liability insurance fees

Percentage pay is only one part of evaluating a Lease to Own program. Drivers should also consider fuel surcharge, accessorial compensation, weekly lease payments, maintenance costs, insurance, deductions, and expected freight.

Lease Payments, Costs, and Weekly Deductions

Understanding recurring costs is important when comparing lease purchase trucking companies. Buchanan publishes the following current program costs so drivers can evaluate more than the advertised revenue percentage:

• Lease Payments: Vary based on truck model, year, and mileage
• Lease Terms: 3 year, 4 year, or 5 year options
• Maintenance Deduction: $400 per week
• Base Plate Program: $45 per week, or $47.50 for a Heavy Haul plate
• Escrow Account: $100 per week for 20 weeks, totaling $2,000
• Security Reserve: $50 per week for 40 weeks, totaling $2,000
• IFTA Fuel Taxes: $15 per week, refunded if fuel tax requirements are met
• IRS 2290: $10.58 per week
• Transflo: $5 per week
• Administrative Fee: $5 per week

Insurance Costs and Coverage

Insurance and required coverage should also be considered when estimating Lease to Own expenses. Current Buchanan program information lists:

• Physical Damage Insurance: 4.57% of insured value
• Bobtail / Non-Trucking Insurance: $8 per week, required
• Mechanical Breakdown Insurance: $3.50 per week
• Occupational Accident Insurance: $33.46 per week, required

What to Compare Before Signing a Lease Purchase Agreement

A Lease to Own program is a business decision as well as a driving decision. Before signing an agreement, drivers should understand the complete cost structure and how the program works.

Important items to review include:

• The exact weekly truck payment for the equipment being leased
• The length of the lease agreement
• The percentage of gross line haul paid to the driver
• Fuel surcharge and accessorial compensation
• Maintenance deductions and responsibility for repairs
• Trailer charges or other equipment costs
• Insurance requirements and premiums
• Escrow, security reserve, base plate, IFTA, and administrative deductions
• Freight availability and the type of freight you expect to haul
• Home time options
• The exact end of term and ownership conditions in the written lease agreement

Review the Buchanan Hauling Lease to Own / Lease Purchase Program Disclaimer and ask recruiting questions about any part of the program you do not understand before signing an agreement.

Apply for a Buchanan Lease to Own Opportunity

Lease to Own positions are limited and depend on current needs. Drivers who have questions can contact Buchanan recruiting. Drivers ready to complete the full application can use the button below.

Before starting the application, have the following information available:

• Social Security Number
• Home address history for the past 3 years
• Current driver's license number and driver's license history for the past 3 years
• Employment history up to 10 years
• Traffic accident, violation, and conviction history from the last 3 years
• Military history, if applicable

*Lease to Own driver positions are based on availability and current needs. Additional qualification requirements may apply. Eligibility cannot be determined until qualification paperwork is received and reviewed by a Buchanan representative in Fort Wayne, Indiana.

Other Lease Driver Related Resources: Buchanan Hauling Lease to Own / Lease Purchase Program Disclaimer - Driver Recruitment Disclaimer - At-Will Employment Notice - Equal Opportunity Employer Statement - FMCSA and DOT Compliance Disclosure - DAC / PSP / Background Check Disclosure - Safety, Hours-of-Service (HOS), and ELD Policy - Privacy Policy Addendum for Recruitment - Contact and Support Disclaimer for Applicants