You’ve dreamed of owning your own truck-driving business for years, and you’re serious about making that dream a reality in 2023.
Smart thinking. Research shows that the demand for tractor-trailer drivers is expected to grow by 4% between 2021 and 2031.
Fortunately, you can easily break into the industry with minimal upfront costs through lease-to-own trucking. Leasing trucks comes with a slew of benefits, as it allows you to eventually own your own truck.
Here’s a rundown of seven benefits of truck ownership.
Let’s get started!
1. Flexibility and Freedom – Lease to Own Trucking
One of the top reasons to own a semi-truck is that this will give you freedom when it comes to when, where, and how you work.
For example, if you own a semi, you may work freelance or with a particular company. You can even operate a business you launch yourself. You won’t be limited to firms that provide drivers with trucks.
Because you dictate your work schedule and get to choose the loads you want to haul when you have your own semi, you’re essentially your very own boss. You don’t have to worry about dealing with strict limitations placed on your mileage or the carriers you can work with, which some leasing companies impose on their independent truck operators.
As a semi-truck owner, you also get to control how much income you generate. That means you may make as little or as much money as you desire. If you are okay with putting in long hours, your income potential is extremely high.
With truck ownership, you may also find it easier to enjoy the excitement of traveling. This means you can finally escape your traditional work environment, whether it’s a store, a worksite, or an office, and make the open road your office space.
The ability to work on your own terms and control your career’s trajectory may ultimately help you to increase your confidence. This is true even if you just started becoming involved in trucking. This feeling of self-worth may help you to make more expedient decisions and thus advance your trucking career.
2. Ability to Build a Portfolio of Assets
Yet another reason to consider leasing a truck is that when you eventually own your truck, you own a high-value asset.
As a trucker, you may struggle to create financial stability. However, a great way to accomplish this is to build up the real assets you have, and having a semi can be a vital part of this.
Why? Because semis carry significant monetary value. They are real property, much like land or home would be. They create a strong foundation for building your future.
3. Control Over Truck Upkeep – Lease to Own Trucking
Trucks require consistent care and maintenance. Fortunately, as a truck owner, you’ll also enjoy the benefit of being able to maintain a proper maintenance schedule for your truck. This will allow you to keep this important personal asset updated and in tip-top condition.
In addition, you will have the authority to make critical decisions concerning the well-being of your equipment.
4. Truck Load Discounts
Owning a truck also comes with the benefit of giving you access to discounts on the loads you carry.
Companies are generally okay with paying less for loads if they do not need to cover the truck’s cost. That translates to more money for you.
5. Trucker Tax Benefits
Saving on taxes is another major benefit of leasing a truck to own it. That’s because as a truck owner, you can maximize tax deductions. For instance, you may deduct the costs of maintenance, fuel, repair, and other expenses related to your business.
As an example, let’s say you spend about $100 per week on gas. This is a total of $400 per month and $4,800 per year. This doesn’t even count the cost of maintenance and repairs in a year, too.
Fortunately, owning your truck can help you to save big when tax season rolls around by writing off the above-mentioned expenses.
6. New Trucking and Truck Technology Opportunities in the 2020s
As a semi-truck owner in the 2020s, the world is your oyster. Thanks to the growth of e-commerce, truckers today have many opportunities to transport freight all over both the United States and the world. That means more opportunities for you to make money.
Also, with trucking technology advancing, truckers have opportunities to buy more efficient, newer trucks. This can help them to reduce their truck operating costs long term.
7. Chance to Grow Your Trucking Business
Finally, when you own a truck, you put yourself in a great position to expand your business while working less.
To achieve this, you could hire other truck drivers to handle loads for you. Alternatively, you could lease your semi to other businesses or other drivers.
Either way, you can generate profits from your semi while still taking time to rest, spend time with family, and enjoy the pleasures of life. And this consistent stream of income can further enhance the quality of your life.
How We Can Help You with Lease to Own Trucking
Lease-to-own trucking can put you on the path to becoming a truck owner, which can give you the freedom to control your work schedule. This will also allow you to grow your dream trucking business over time.
Fortunately, at Morris Trucking, we are excited to offer stellar truck lease-to-own programs for aspiring truck drivers for hire. We also offer competitive driver bonuses.
Get in touch with us to learn more about our lease purchase programs and how we can help you to experience the thrill of truck ownership in the years ahead.