jb28

Discussion in 'Experienced Truckers' Advice' started by jb28, Oct 25, 2014.

  1. jb28

    jb28 Bobtail Member

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    Oct 25, 2014
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    Hi I'm a writer looking for some information on what you guys think about leasing trucks. I had no replies from the big companies and am wondering why they are keeping so quiet. Is leasing a good or a bad idea? Is it better for big companies?
    I read some comments and most of the owner operators are not in favour if it. Let's hear your thoughts.
     
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  3. joseph1135

    joseph1135 Papa Murphy

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    The Highway To Hell.
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    Leasing is a horrible idea and is literally legal theft.
     
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  4. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    If you are talking about one of the mega carriers lease to own programs (scams) then I'd say no way. If you are talking about leasing a truck from say Penske to run as an O/O as opposed to buying a truck, then do your homework. I've seen it done but those leases normally do not benefit a one truck operation. Either way you pay and I would rather buy the truck, work, pay it off and it is mine.
     
  5. STexan

    STexan Road Train Member

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    I assume we're referring to typical "lease o-o programs" offered by most of the mega carriers ...

    For the carrier? Leasing is GREAT. For the driver (Leasee), leasing sucks (as a general rule)

    It's in the way the lease agreement is written. It is written to offer the carrier cheap power and shift financial risks (freight down-turns, break-downs, etc) to the leasee. A carrier can literally move freight cheaper (per mile) by utilizing a lease truck then they could if they utilized their own truck and employee driver. You can extrapolate from there where the parties stand.
     
  6. Hurst

    Hurst Registered Member

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    Look at it this way.

    Big company sells naive inexperienced driver on the idea of being an owner operator. Grossing big money. Calling his own shots. With minimal or no out of pocket money to start.

    Driver likes the idea of being his own boss. Has big dreams with delusions of granduer.

    Truth is closer to this.....

    Big company has driver over paying for a used truck. They take money from his settlements to build an escrow account for repairs, tools, insurance etc. By the time he pays for his fuel he is actually netting less than if he had signed on as a company driver. There is also the large ballon payment that he cant afford to pay the truck off when his lease is up. Truck returns to the company. Driver comes to TTR to whine and complain about how so and so company screwed him over. Now he doesnt want to be company driver any more. Tries to get loan to buy another older truck. Goes bankrupt because he cant afford the maintenance or repairs.

    This is how the majority of leases deals transgress. Not all.. but you can search here on TTR and read horror story after horror story. Big companies sell a bill of goods thats always in their favor. They are in business to make money off the sweat and backs of naive drivers who just want to make an honest living.

    Hurst
     
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  7. X-Country

    X-Country Medium Load Member

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    be a company driver, pay off bills/debts, save up a nice down payment, go to YOUR bank and get a loan for YOUR own truck. Contract out to a few carriers or get set up on a dedicated run, make bank, stick plenty away for maintenance, repairs and taxes.

    pay your living expenses put the rest in savings and invest wisely.

    profit. enjoy life.

    thats how you do it. screw that company lease crap.
     
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