Lease Purchase programs.... the scam I'm noticing about most all of them

Some yes. Some not.

 

If y'all can't figure out how to make a business opportunity pay more than your paycheck either stay on the company side where it's safe, or get enough business education to understand how leasing will work for you.

 

Sound advice from ironpony! Here's a quote from Lease Portfolio.
Lease agreements are complex, and successful negotiation of terms requires expertise in the industry-particularly an in depth understanding of how equipment leasing companies make money. Expertise enables the attainment of favorable terms and a minimization of the risks often couched in lease agreements. Many enterprises don't have the necessary leasing experience in-house and so hire leasing consultants. Somewhere in this forum a driver had a lawyer look over an agreement and he stated you dont want anything to do with this. Knowledge is power and they know it so just be prepared.

 

The whole point of a lease for me is to make money. I make significantly more than most company drivers. I am well into the $80k+ territory. There is little to no risk doing it this way. The people that think there is so much risk know very little about leasing, or only know about bad leases.

Owning a a truck is of no concern to me at this point. I am all about making the most money I can without having to own a truck.

You can call it a flease deal. You can holler about me paying the companies bills, or lease guys buying their jobs. That's fine. When I read about company drivers making $50k or $60k a year I just chuckle to myself. We are doing the same job, yet what I bring home is so much more and you say we, lease operators, have such a bad deal.

 

Is that $80k net or gross?

 

That's net.

 

If you can't read and understand the contracts that you will sign (there will be a lease agreement and an operating agreement with the carrier) then there are some conclusions to be made. First, the only reason to make the contracts so complex as to require an attorney is because the agreement is one-sided and most likely not in your favor. The second is that you need that business education so you can work the numbers and the contractual requirements to find out if the opportunity will be lucrative enough to make it worthwhile.

 

Good job. ...

 

Is that 80k net, and then you fund your own 401k, health insurance, vacation pay, sick days and short term/long term disability after paying your self employment taxes, or does the company pay these items?

This is a serious question - I'm not looking for an argument.

On another discussion about L/O - the argument was that the driver was making more than as a company driver at the same company - which justified the L/O. My question was then - "Why don't you get a job at a company that pays significantly more that the current company driver or L/O where you're at now?"

Each to their own - as I've said before , trucking is different strokes for different folks. What ever makes you happy