BEST LEASE PURCHASE??? (to head me towards ownership)

Discussion in 'Lease Purchase Trucking Forum' started by Wolfen666, Nov 13, 2012.

  1. ladywrongway03

    ladywrongway03 Heavy Load Member

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    Risinger bros has trucks for lease.They are not new trucks,but used penske trucks.2 yrs and the truck is yours.payments are 400 a week.Most loads are drop and hook.The only complaint I have with them is they dont go west but I knew that when I started.You will hear alot of oh you dont want to do that but I have done well as a O/O.Just got to save money for the tax man and repairs
     
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  3. Cranky Yankee

    Cranky Yankee Cranky old ######

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    Lease purchase programs are hard no doubt. You need to be good at buisness and have a good driver manager to even stand a chance
    but to say no one succeeds is incorrect
    Here at transam we have over 100 people who have bought there trucks and have stayed on as O/O
    . Many more have left with thier trucks and tried other things
    there are 8 drivers who now own mutiple trucks all leased onto transam

    SO IT CAN BE DONE


    the biggest fault lies in allowing new drivers to lease trucks before they understand what OTR trucking entails
    this accounts for the failure percentage

    at transam you can lease trucks that have been turned in by others for as little as 6 months and at the end of the lease by it out lease yourself back to transam and keep on trucking

    to be clear a new truck has a 5 year lease. If you lease said truck at the 3 1/2 year mark in 18 months the lease expires you can then purchase that truck at a reduced rate financed thru transam and cut your payments in half.
    This doesnt fix the fantasy part of leasing a truck with under 100000 miles on it and becoming an O/O tommorow
    and living happily ever after
     
    Flip Flops and ATX Thank this.
  4. Wolfen666

    Wolfen666 Bobtail Member

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    Wow, none of you have been helpful... I asked for company suggestions, most companies do 2012-2013 trucks with a 350,000 mile lease purchase program.. So most of you saying what I am looking for is not real, you are wrong and talking out your---.

    If you don't know a company, why comment? This is a thread asking a question, looking for answers... Do you people just like talking or something?

    I never said I was only looking to lease/purchase for the sake of a pet. Do not lecture me when you obviously didn't even read what I said. Many lease to purchase programs offer pets in the truck.

    All I asked is a simple question. What companies, if any, have you people learned of or had experience with in a lease purchase program and if it was suggestable or not.

    I did not ask for paragraph upon paragraph of " tips ".

    Seriously... What a waste of time reading all this. I didn't come here and post this to be told Obama is the reason I should not lease which is total bull, nor that some people think it is bad. Some of you are students! How can you possibly be trying to give ME advise?

    Ugh, this whole thread disgusts me. I have talked to dozens of companies that fit my terms to a tee, I just wanted some fellow truckers with EXPERIENCE to tell me which companies they felt had a good lease/purchase.

    Nothing I hate more than people who know nothing about what they are talking about (have never leased a truck in their life) trying to tell me the ins and outs let alone giving me advise and trying to tell me to change my mind.

    Thanks for nothing guys. =/
     
  5. Flip Flops

    Flip Flops Medium Load Member

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    you have real world owner operators who are trying to help you by advising you against a lease purchase and this is your reply.....nice
     
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  6. snowwy

    snowwy Road Train Member

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    you come along. and ask the same question that is constantly getting asked on this sight. cept you have some demands with your request.

    you only have 1 year experience.

    the rest of us have been out here a long time. some have actually done what you want to do. only to never be heard from again.

    we've been around. you haven't.

    we all have the smoke dream. to be rich and famous. but the reality is. there's only one way. and your way isn't it. but most of you will do it anyways.

    because the only thing you can think of. IS GEORGE WASHINGTON. and that man is pretty powerful on some of you truckers.

    we're not trying to piss on your dream. we're just trying to wake you up.
     
    Cranky Yankee and Already There Thank this.
  7. jess-juju

    jess-juju Road Train Member

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    Feb 19, 2008
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    This is the reason that a LEASE OP thread is needed!


    No O/O is going to give you the answer you want!

    Most run under there own Authority or Lease to a company, meaning if they don't like the company they are Leased to they can take THERE truck and move it to another company!
     
  8. BigBadBill

    BigBadBill Bullishly Optimistic

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    NO YOU HAVEN'T talked to "dozens" of companies. First, you admitted you can't get a straight answer. So some sale person (i.e. - recruiter) will tell you what ever you want to hear to get you to sign on.

    Sure, plenty of companies Leasing (but the purchase is not really part of it) newer trucks BUT you also want to be under 400K miles when done. How do you do that when you are having to run over 3,000 miles a week just to make driver wages?

    If you want to do this and OWN the truck at the end then you need to be looking at leases that are with used equipment with higher miles (400K+) to start.

    So you are looking for something that doesn't exist.

    BTW, I was a profitable lease operator but NEVER bought into the delusion that it was anything more than it was - a way to make a better pay check IF I did all the right things.
     
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  9. Cranky Yankee

    Cranky Yankee Cranky old ######

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    have a nice life flipping hamburgers we all have experience you lack
    we need less like you on the roads
     
  10. Cranky Yankee

    Cranky Yankee Cranky old ######

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    18 post just one student you need a reality check
     
  11. gokiddogo

    gokiddogo Road Train Member

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    Come lease a truck on with my company! I will finance the entire amount through whoever I see fit, pass along any and all financing costs and I will do all this for the low low price of $800 per WEEK. I will also find constant freight for you! If you want to go home, no problem! I will even find you freight going near your house. Stay home as long as you want! Your statement of earnings which I will pay you monthly will be a negative if you fail to drive a minimum of an average of 3,000 miles per week. I will also pay you an astounding 1.40 per mile (loaded or empty? I'm not telling til you sign!) I will also provide you a fuel card which you can use and take the money owed from your settlements, (plus a small administrative fee). I'll also not be bothered by you when you are only dispatched 2,500 miles for the week and it means nothing to me that your children are hungry. Now, after you have made 75% of your payments and are managing not to loose your mind, freight may just slow down and you will be lucky to get 1,800 miles per week from me. (We will both just blame the economy, sound good?) When the time comes when you are so far in debt and see no way out, the easiest thing to do will be to turn the truck over to me. This was all in the contract you signed at the beginning and there isn't a thing you can do about it! I will then hire you as a company driver if you like, I will take over the payments, and you can continue driving for me.


    This is what they don't tell you but it is the truth. If it was a good thing to do you would hear good things about it. There is no easy way into becoming an owner operator. Perhaps nobody should have made ANY replies in this thread. Then we'd get scorned for not saying anything. This is the hard reality of trucking. You can no way learn this through one year of experience. Did you read anything in my previous posts about drawing up a simple plan about knowing your costs and then getting a rough idea as to what you need to make for the business to work? Those that fail to plan are planning to fail. Enough said.
     
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