Become an Owner Operator

Masterlease Owner Operator Services Managed Lease Program

Masterlease Owner Operator Services seeks quality operators who are either unable to lease a truck on their own or not wanting to manage the paperwork and business planning associated with being a successful owner operator.

Masterlease places qualified owner operators in their own tractor. Masterlease deals primarily in Freightliners, Peterbilts and Kenworths varying in engine make, power rating, transmission, and other specs. Masterlease Owner Operator Services is a Division of Master Lease, a large truck leasing company, and our inventory is frequently changes. Other brands often become available. To access information and specs on available trucks, please visit www.masterlease.com.

Masterlease Owner Operator Services sets up a lease between the owner operator and Master Lease. The lease agreement constitutes a managed lease, meaning that the operator agrees to hire Masterlease for business management services. Once the terms of the lease are satisfied, the operator assumes ownership of the truck and its maintenance escrow and is free to end or extend the management agreement with Masterlease.

As a business manager, Masterlease controls the operating expenses for the truck and handles all settlements, insuring they are received in a timely and accurate manner, that the lease payment is made on a regular basis, and that money is put aside regularly for a maintenance account.

Masterlease maintains a maintenance account for the operator reserved primarily for essential repairs, services, and tires for the truck. This account builds at the rate of $0.08 per mile run by the truck.

In exchange for management services and credit enhancement to secure the lease, the owner/operator pays Masterlease a weekly management fee. This fee is deducted directly from the operator’s settlement. A one-time documentation fee is due at lease signing.

The owner/operator is responsible for driving the truck in a safe manner and ensuring that all necessary repairs and services are performed regularly to keep the truck running efficiently. The operator’s maintenance reserve pays for the costs of repairs, services, and tires. The income of the typical owner/operator depends largely on the productivity and efficiency of the truck as well as the operator’s own motivation and commitment to work.

Although Masterlease keeps track of the insurance, plates, licensing, maintenance costs and highway use taxes for the truck, the operator is responsible for calculating and paying his own income taxes.

IN ORDER TO QUALIFY:

1). The operator must submit a completed Masterlease application & release form.

2). Masterlease must meet with and approve the operator.

3). The operator must be approved at one of Masterlease’s selected carriers (other fleets may be considered, but only at the discretion of Masterlease).

** This is only a summary. The information listed here may be changed, added to or deleted at any point depending on the management agreement with Masterlease Owner Operator Services. **

Adobe Reader 8 is required for application & release form.