I know what the consensus is amongst most of the veteran members of this forum in regards to Lease Purchase programs. You all say not to lease a truck from the person who tenders you your loads. What would you think of a lease purchase in which the leasing company has no ties to the carrier?
I am considering starting a leasing company to lease my used trucks since the trade in market is so depressed. It would be small down payment and no credit check. You could lease it to any carrier you wish as long as the carrier agrees to withhold my lease payment and maintenance escrow through payroll deduction and the carrier must pay me(the leasing company). I wouldn't be doing this as a profit center but rather a way to hedge against the low trade in prices that I am taking a bath on now.
A vague example of the numbers are as follows; 2006 KW T600, 86 inch studio sleeper with o/o specs and between 300,000-400,000 miles. Payments of $1650 per month for 36 months and a $1 buyout at the end of the lease. $.07 per mile into a maintenance/tire escrow(100% refundable).
This is VERY much only in the preliminary stages and I'm looking for your general thoughts about it.
I know what you all say about LP programs, but...
Discussion in 'Ask An Owner Operator' started by Eskimo6804, Jun 2, 2008.
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We leased quite a few trucks. probably half of them were leased. Never had to have payments withheld though. Would a company even do that?
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ya I know the reason. just didn't know if companies would do it. I can se the small companies having an issue before the big ones. I think it would work.
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I'll repo for ya. wouldn't be the first time someones taken pot shots at me
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Put a hook and a winch on your rig and you're in -
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Hey Ron, what kind of wagon are you pulling now? Just wondering how the rates are looking on outbounds from SoCal for you.
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