Lease purchase programs are becoming more and more popular amongst truck drivers.
What is a lease purchase program? Moreover, how does the lease purchase program works?
Well, most successful trucking companies nowadays have started implementing this type of programs, which in fact is a combination of elements of a traditional rental agreement and the right to later on purchase the truck.
The lease purchase contract is way too different from the regular lease.
In general, the lease purchase contract can be structured in two parts.
The first part represents the lease term, whereas the second one represents the contract of the sale.
Thereupon, what makes the lease purchase programs so attractive to truck drivers, especially to rookie truck drivers, is the fact that at the end of the lease term, the truck driver will have the option to purchase the truck.
Hence, the lease purchase contract might include a fee as well a monthly payment.
So, if you are looking forward to buy a truck, I would suggest you to take the lease purchase program into consideration first.
