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Owner Transition Program FAQ

What kind of truck can I get?

Interstate has specific requirements for the ownership transition program: the age of your truck, length of wheelbase and 5th wheel height. Additionally, if you plan on running 48 states or 11 Western, the truck must be CARB compliant. Otherwise, it is your decision what type of truck to purchase. Our leasing finance partners will provide recommendations on how much you can afford to spend and ensure you have an opportunity for long-term success.

How much are the truck payments?

Interstate’s pre-screened finance companies will determine the weekly payment schedule based on type of truck , your financial situation and how long you want to make payments. Generally applied, the truck payments will be between $480 and $525 per week.

How long will I make payments?

You will determine this with the financing company and will depend on the purchase price, your down payment and your weekly payment amount. Generally applied, payment periods will be between 24 and 42 months.

Will they do a credit check? 

Most lenders will perform a credit check, but a strong indicator of success is your employment history.  Lenders like to see associates have a stable work history and periods of employment over one year.

How much is the down payment? 

The down payment will depend on the lender and other factors such as work history, credit worthiness and the length of the loan period.

What if I want to drive for another company? Can I leave Interstate? 

The ownership transition program is designed to flex with you. Although you are bound by your Carrier Agreement to Interstate and there is no formal requirement that Interstate expects the finance company to force drivers to stay. Your finance company may require stability of your Carrier Agreement as part of your loan. Each finance company maintains their own requirements with the loan applicant.

Why do I need to drive 90 days for Interstate? 

Transitioning into ownership and being a small business owner is not as simple as many people believe. There is a lot to learn about running a business and Interstate believes 90 days provides the best opportunity for you to understand how Interstate operates at the same time learning crucial skills to becoming a successful Owner.

What will I learn as part of the Interstate Owner Transition Program?  

Associates will learn the key things that will make you successful  as a small business owner. Topics include Maintenance, Fuel Compliance, Fuel Surcharge computation, Taxes, Business Plan development and more.

I am a resident of WA, MA or NY, why do I not qualify for the program?

These states’ interpretation of the relationship between Interstate and the Owner Operator, prohibits Interstate from offering the program.

 

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