What an owner operator lease is
An owner operator lease is an agreement to run your truck for a carrier. You own the truck and run your business, and the carrier supplies the freight and the back office that keeps you moving.
It sits between being a company driver and running under your own authority. You keep the truck and the say over your week without building a customer list from zero.
Before you sign any owner operator lease, get clear answers to a few questions. They apply to every carrier you compare.
- Which deductions, if any, come out of the weekly settlement?
- Which truck costs are yours, and which programs help with them?
- What does the lease ask of you, and what does the carrier commit to?
- How can either side end the lease, and what happens to your plates and equipment when it ends?
- Which terminal would you run from, and which ports and rail ramps does it serve?
Read the full lease agreement, with any carrier. Ask your recruiter to go through each section with you, and get every question answered before you sign.
What leasing on with Eagle includes
Eagle's lease on program is built around local intermodal freight. These are the program terms on file for leased-on operators.
- $3,000–$5,000 weekly gross on local intermodal freight.
- Weekly direct deposit. Settlements land in your account every week.
- Home daily. Runs start and end near home.
- No forced dispatch. You choose the loads and the schedule.
- Flexible scheduling so you can build the week around your business.
- Clean inspection bonuses paid for clean roadside inspections.
Gross revenue before fuel, insurance and truck expenses. Not a guarantee; actual earnings vary by loads, lane and costs.
Support programs for leased-on operators
Gross is only half the picture. The other half is what it costs to keep your truck legal and on the road, and that is where these programs help.
For a full walk-through of the money side, see how owner operator pay and weekly settlements work.
- Fuel card with discounts at stops across the country.
- Low-cost insurance premiums for leased-on operators.
- Plate and registration program, so you are not handling it alone.
- IFTA fuel tax program for your fuel tax reporting.
- Easy-to-install ELD and front-facing dash cameras.
- Mobile dispatching app to see and take loads from your phone.
What the lease spells out
Federal leasing rules decide what any owner operator lease with an authorized carrier has to put in writing. The list is in 49 CFR 376.12, and it applies to every carrier you compare, Eagle included.
Use it as a checklist when your recruiter walks you through the lease. If a line below is not answered in writing, ask where it is.
- Term and termination. The lease must state when it begins and ends, or the circumstances that start and end it, and it is signed by you and the carrier.
- Compensation. The amount you are paid for the truck and your services must be clearly stated in the lease or an attached addendum, delivered to you before your first trip. It may be a percentage of gross revenue, a rate per mile or another method both sides agree on.
- Who pays for what. The lease must say which side covers fuel, fuel taxes, empty miles, permits, tolls, detention and accessorial services, and base plates and licenses.
- Payment timing. You must be paid within 15 days after you turn in the delivery documents for a trip. If your pay is a percentage of gross revenue, you get a copy of the rated freight bill at settlement.
- Chargebacks. Every item the carrier may pay first and then deduct from your settlement must be listed, with how each amount is computed, and you get the documents that support each charge.
- No forced purchases. The lease must state that you are not required to buy or rent products, equipment or services from the carrier as a condition of leasing on.
- Insurance. The lease spells out the carrier's duty to carry public liability insurance, who provides any other coverage such as bobtail, and the amount of any insurance charged back to you. It also sets the conditions for any cargo or property damage deductions, which must be itemized in writing before they are taken.
- Escrow. If an escrow fund is required, the lease states the amount, what it can be applied to, how it is accounted for, that interest is paid on it, and that it is returned no later than 45 days after the lease ends.
This is a plain-language summary of the federal rule, not legal advice and not Eagle's lease terms. Your recruiter can show you Eagle's lease and its addendum; read both in full before you sign.
What the work looks like day to day
You haul containers between ports or rail ramps and customers in one metro area. The runs are short and you sleep at home. If this freight is new to you, start with what intermodal drayage is.
Because there is no forced dispatch, the number of loads you run is your call. A heavy week and a light week are both your choice.
Openings change week to week. The terminals with live postings are listed further down this page, and every terminal is on the Eagle terminal map.
Who can lease on with Eagle
You need a valid Class A CDL; 2 years of verifiable tractor-trailer experience, or 1 year plus a certified trucking school certificate; your own commercial motor vehicle; a truck that is model year 2000 or newer, or ELD compliant; and age 21 or older. You must also meet Eagle's safety and qualification standards. Each line is explained on the owner operator requirements page; check it before you apply.
- Valid Class A CDL. Current CDL-A in good standing.
- Tractor-trailer experience. 2 years verifiable, or 1 year plus a certified trucking school certificate.
- Your own truck. You own a commercial motor vehicle.
- 2000 or newer, or ELD compliant. Truck model year 2000+ or ELD compliant.
- 21 or older. Asked on the Quick App.
- Safety standards. Meet Eagle's safety and qualification standards.
Leasing on vs an owner operator lease purchase
The two terms sound alike but describe different deals. Leasing on means you bring a truck you already own. A lease purchase is a way to pay toward a truck you do not own yet.
Eagle's requirements call for your own truck. If you are still shopping for one, ask your recruiter what options make sense before you sign anything.
When you are ready, pick a terminal on the local intermodal owner operator jobs map and send the Quick App.