Celadon Trucking has announced a new truck lease program for drivers aimed at giving them the opportunity to become a lease-operator.
Celadon’s new “Rent-to-Run” program is a full-service truck lease program in which drivers get “all rewards of being an independent contractor without the risks,” the company said.
Drivers in the program will get 75 percent of freight bill for on-time deliveries and receive weekly settlement statements.
“This offer provides less hassle and higher take-home pay for most drivers,” said Ashley Hay, Celadon’s Vice President of Driver Recruiting. “The Rent-to-Run program offers a pay package higher than our typical lease purchase driver combined with the support network available to drivers in a company fleet.”
The company said drivers can choose between either a 2012 or a 2013 International ProStar. A weekly payment will cover the truck, insurance and all operating expenses. For the 2012 model year truck, the payment is $1,050 per week with the option to add bobtail, occupational and accidental insurance for an extra $50 for a total of $1,100 a week. The weekly payment for the 2013 model year truck is $1,100, plus the optional $50 for additional insurance.
After one year in the five-year lease program, drivers that meet the company’s performance standards will be eligible to upgrade the truck.
Drivers in the program can drive over-the-road or Midwest regional and are promised full-service maintenance and a free loaner truck provided within 48 hours when needed to mitigate downtime, Celadon says.
“Our Rent-to-Run program simplifies managing your own truck,” Hay added. “Whether you want to test your hand at running your own truck or you’re a seasoned veteran, this full service program takes the risk out for drivers.”