A lease operator is a driver contracted by a carrier who leases equipment and haul freight for them. The driver signs a lease agreement with the carrier and depending on the lease purchase program, strives to fulfill the agreement and own the truck after the lease period.
Contrary to owner operators who operate under their own authority, a lease owner operator gets load from the carrier, who may also cover some expenses such as maintenance/repair, fuel, insurance and more. But that depends on the company that provides the lease program.
Lease Owner Operators are obligated to pay monthly lease for the truck and very often, a down payment would not be required. The lease operator is usually given a newer truck and the average lease period is usually three to four years.