Lease Purchase
Many companies will tell you that their lease-to-own program is “driver-friendly” or a “partnership” but after you sign the paperwork you begin to get the feeling you’re on your own. At Midwest Express, we take our role seriously in helping you work toward owning your own equipment and we structure our program to make certain that we provide you all the assistance and guidance you need.
In the last 15 years we have helped drivers meet their ownership goals and unlike most other carriers, we have drivers who have paid off their trucks and they still own them today.
Lease Purchase advice from Midwest Express
Whether you lease a truck with Midwest Express or someone else, here is our advice.
Truck Lease Purchase Calculator
Lease Purchase agreements are good for some drivers, but they can be hard to understand. We’ve developed this Truck Lease Purchase Calculator to help you estimate your bottom line and better understand if it’s a good fit for you.
Complete your Lease and Operation information below to calculate your estimated Revenue, Costs and Net Revenue.
These estimates are for demonstration purposes. Contact MWEX if you are interested in a formal quote.
Enter your information
Your Results
Revenue (per week)
Base rate
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Fuel surcharge
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Total revenue (to the truck)
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Costs (per week)
Fuel
Based on average fuel cost and fuel economy. Additional costs in the form of fuel taxes can be accrued based upon the states in which fuel is purchased and miles driven.
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Lease payment
For demonstration purposes only. Your payment will vary based on specific truck and mileage. Contact MWEX for an exact quote.
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Maintenance escrow
We escrow funds in a maintenance account at a rate of $0.12 per mile and cap the account at $10,000. Once you have accumulated $10,000 in the account, those weekly amounts that had been escrowed now go to you in your settlement.
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Additional costs
Additional costs include: Occupational and Accident Insurance, Excess Liability Insurance, Personal Property Tax, Prepass, Bobtail, License, and FHUT.NO additional charges for trailers or onboard computers.
Insurance costs may change over the course of the lease.
This comparison of costs, revenue, and net pre-tax amounts is presented in a weekly format. Some costs such as FHUT and license fees are charged to the driver over an 11-week period and 18-week period at $50 and $100 per week. Some costs are charged monthly but are converted to weekly costs in this comparison.
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Net Revenue (per week)
What you can expect to make before taxes
Consult a tax preparer or other tax expert about how to plan for taxes due from net income.
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Lease Purchase FAQs
Program Overview
Program Success
Equipment
Financials
Requirements
To be hired as a driver for Midwest Express, you must:
- Be at least 24 years old
- Have at least 2 years of recent, verifiable experience using the same (or similar) equipment
- Have a valid CDL from your state of residence
- Pass a road test administered by Midwest Express
- Be able to physically operate a tractor-trailer, including entering/exiting tractor or trailer, loading or unloading trailer, lifting boxes, and when necessary, operating a pallet jack
- Pass a DOT physical and a post-offer function test
- Be able to read and write sufficiently to maintain records, and understand bills of lading, company notices, and the driver’s manual
- Be able to receive and follow driving directions
- Possess a suitable work history, demonstrating the ability to serve customers, work with others and show commitment to the company safety policy, operations, and paperwork considerations
- Possess a suitable driving history, meaning you’ve had no more than 3 incidents, accidents, or moving violations on your driving record in the past 36 months
- Pass a pre-employment drug screen
The following items may eliminate your consideration for original or continued employment:
- DWI/DUI (last 5 years)
- Any combination of 3 or more moving violations, vehicular accidents, or similar incidents
- Speeding conviction of 15 mph or more
- Reckless or careless driving
- Driving with a suspended or revoked license
- Fleeing from an officer of the law
- Racing on public highway
- Failure to stop for a school bus
- Second at-fault accident
- Failure to have vehicle under control
- Driving on wrong side of road
- Hit and run or leaving the scene of an accident
Service area
Our service map shows that we operate the fleet from the north (Wisconsin and Illinois) to the south (Gulf States and Texas).
Labeled cities indicate drop trailer locations. Our trailer to truck ratio is 3 to 1. We want to keep you moving, eliminating unnecessary live load and unload.
