Celadon, headquartered in Indianapolis, is letting its company drivers in on the owner/operator experience with its new Rent-to-Run program.
Any experienced driver is eligible to take part in the program, which allows them to try being an owner/operator without fully committing to being an independent contractor.
“Our Rent-To-Run program simplifies managing your own truck,” said Ashley Hay, Celadon‘s vice president of driver recruiting. “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.”
There are a limited number of spots in the program available. Participating drivers receive 75 percent of the bills of loading if the load is on time.
The trucks are 2012 and 2013 Prostars with Maxxforce engines.
The payment includes the truck lease, maintenance coverage, and insurance costs. For the 2012 models, the payments are $1,050 a month for the truck lease. If a driver needs to add insurance, that payment increases to $1,100 a month.
For the 2013 models, the payments are $1,100 a month for the truck lease. If a driver needs to add insurance, that payment increases to $1,150 a month. These payments are taken out of the driver’s weekly settlements. The insurance covers occupational, bobtail and accidental insurance. In the event that a program truck breaks down, Celadon will provide a replacement within 48 hours.
Drivers in the program drive over the road or Midwest regional. Enrollment for the program is anticipated to end in June. Drivers who enroll essentially sign a five-year lease agreement, and at the end of their five years there is a $1 buyout that lets them keep the truck.