The KLLM lease-purchase program allows independent contractor truck drivers to purchase their own trucks, making payments over an 18- to 36-month period, according to KLLM. Drivers can choose to purchase a Cascadia or Columbia model Freightliner truck. The first 10 owner-operators finished the purchasing program in 2010.
KLLM Transport Services started its lease-purchase program as a pilot project. As of March 2015, KLLM has produced more than 700 lease-purchase independent contractor drivers, according to the company. The program offers flexibility, allowing drivers to make double payments to own their trucks in half the time. Paying the truck off early enables the driver-owners to make money more quickly.
The lease-purchase program helps drivers who cannot afford to purchase a truck on their own. The program is the most successful in the trucking industry, thanks to the drivers who participate, states KLLM.
KLLM offers opportunities for company drivers and independent contractors. Starting pay rates for company drivers depend on the driver's experience and whether the driver is solo or part of a team. Benefits include health insurance and a 401(k) plan. Independent contractor drivers have a range of pay rates depending on the trip distance. Independent contractors have access to a variety of health insurance options, according to KLLM.