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Benefits of SEMI-TRUCK leasing
DRIVE THE LATEST & GREATEST
When you lease a semi-truck with Success Leasing, you choose from a variety of state-of-the-art trucks in our fleet, outfitted with the latest technology and advanced safety features. For those ready to become an independent contractor, Success Leasing offers the ability to drive the truck of your dreams through their standard lease and lease purchase programs.
Should I Lease a Semi-Truck?
Are you interested in owning your own semi-truck, but not ready to buy just yet? There are several good reasons why leasing a truck could be a good idea for you.
WALK-AWAY LEASE Options
Loaner truck program
Extensive, nationwide shop network
Short-term lease options
Success driveline warranty
Customizable graphics and color options
Retention & Rewards
The Retention and Rewards Program was created to give independent contractors long-term benefits similar to those in a retirement plan. Under the administration of UBS Paine Webber, independent contractors may earn investment returns on contributions made entirely by Prime and/or Success Leasing.
Plan Design
Eligibility:
Independent Contractors with one year of service with Prime
Vesting:
100% vested 10 years after enrollment
Plan Contributions:
Prime Inc. contributes $1000 annually. Success Leasing contributes $500 annually if contractor has a lease agreement
Payment Options:
Lump Sum and installments up to 3 years
Account Options:
Large Cap S&P 500 Index Division, Asset Allocation Division, Prime Rate + 1% Interest Variable Rate Investment (8% Cap)
How to Sign Up:
Complete the plan adoption agreement and submit to the TWIC office at Prime as soon as you are eligible. For more information and any questions, call 800-241-5509.
Leasing Incentives
Independent contractors who partner with Prime are joining the best fleet in the nation. Contractors in the Refrigerated and Flatbed divisions earn 72% of the linehaul. Contractors in the Tanker division earn 71% of the linehaul. On top of these pay rates, leasing incentives increase earning potential.
Incentives
Lease Completion Incentive:
Once you complete a full three or four-year lease as a Prime Independent Contractor, you are eligible for a lease completion incentive of 5.25 cents for all authorized dispatched miles, and an amount equal to the excess mileage is also paid.
Safety & Service Incentive:
Solo Independent Contractor: 5¢ for SF and SV for miles between 2,400-2,900 (500 miles max). Team Independent Contractors: 2.5¢ for SF and SV for miles above 4,000 (no max)
Longevity Benefits:
After 2 years of leasing
– 1 forgiven lease payment earned – $1,100 value
– 2nd forgiven lease payment after 3 years
After 4 years of leasing:
– 2 forgiven lease payments earned-$2,200 value
– Earn 2 more every year thereafter
After 6 years of leasing:
– Reduction in mileage charge by 1/4¢ per mile
– Receive 1¢ per mile in longevity pay
After 8 years of leasing:
– Reduction in mileage charge by 1/4¢ per mile
– Receive 1¢ per mile in legevity pay
After 10 years of leasing
– Vested in Retention & Rewards program
After 12 years of leasing:
– Increase from 5¢-7.5¢ per mile per safety and service incentive