What can you help me with?

Discussion in 'Lease Purchase Trucking Forum' started by 5speed, Sep 21, 2014.

  1. 5speed

    5speed Road Train Member

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    I've been driving for 6 yrs now as a company driver and I'm interested in trying a lease program. I don't think I want to buy a truck but I'm still interested in leasing. If you could help. Do this or don't do that or any advice would be appreciated. My company has a walk away lease and I was told if it didn't work out I could go back to being a company driver. Is there a certain company that you would recommend for a new lease driver? Company's to stay away from? Anything
     
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  3. Chinatown

    Chinatown Road Train Member

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    Cardinal Logistics has a good program.
    Some friends of mine went through their program and make good money; they've been there 15 or so years now.
     
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  4. Powder Joints

    Powder Joints Subjective Prognosticator

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    I have friends that drive for PRIME, they both paid off there tractors and still pulll for prime.

    All companies have both sides of the coin.
     
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  5. MysticHZ

    MysticHZ Road Train Member

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    Do you know how to do a business plan? ... Do that and it will tell you everything you need to know ... the only thing left is whether have the ability to execute your plan.
     
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  6. Blu_Ogre

    Blu_Ogre Road Train Member

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    When you become a Lease operator you are a business owner.

    Do you have the skills needed to set up and successfully run a small business?

    An accountant would be nice to retain to keep you out of trouble with the many tax folks that will be fighting viciously for you wallet.

    Also all that paper you will end up signing will be multiple legal contracts. You need to understand all of them.
     
  7. Powder Joints

    Powder Joints Subjective Prognosticator

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    Heres the deal, Either you fail to plan, or you are planning to fail.

    If your going to lease you need to sit down and figure out your business plan, commit it to being a written plan and follow it.
     
  8. DenaliDad

    DenaliDad Retired Wheel Dog

    Do your research on various companies. Ask specific questions from their people in the know. Call and talk to the leasing department. Get their definition of "walk away" lease; some have strings, some don't. And remember, what's "good" for one may not be for you...and you might want different equipment than a company offers.

    You must also evaluate your own skill set. Are you willing to stay out long enough to make it pay? Do you have experienced, reliable, trustworthy business advisors -- an attorney and accountant, to start with? Are you able to control the weight of your right foot and the frequency your left door opens?

    Many lessees fail and many succeed. Which pile you end up in greatly depends on your own preparation, planning, and performance.
     
  9. pieman 61

    pieman 61 Bobtail Member

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    I was told that all leases are not the same, but they still should be avoided. Also i was told that if i cant buy a tractor on my own credit then do not become an O/O or get into a lease. Now this is from a very knowledgeable and popular source, he knows a whole lot more then i do so i must accept the fact. Whether or not i agree for my situation is irrelevant. Think on that.

    Just an observation
    Pieman 61
     
  10. DenaliDad

    DenaliDad Retired Wheel Dog

    Since it doesn't sound like you're asking for anyone to make your decision for you or whether you should or shouldn't, my recommendation won't try to convince you one way or the other. Investigate these three:

    Stevens Transport's Alliance
    Schneider National's Choice
    Prime Inc. lease
     
  11. Jerry12

    Jerry12 Heavy Load Member

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    Working as a Company driver, how much money have you been able to save today? Save your money, save your money, save your money, eliminate your personal debt; when you sign a lease you will be working to make your business payments & working to prepare yourself for a big maintenance issue...save enuf money where you can take a few weeks of vacation time before you make that jump to owner.
     
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