Crstmalone lease-purchase conract, COPY,

Discussion in 'Report A BAD Trucking Company Here' started by bikerdaddy, Aug 9, 2014.

  1. Rooster1291979

    Rooster1291979 Road Train Member

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    So tired of these broad statements.
     
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  3. HalpinUout

    HalpinUout Road Train Member

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    LOL,,,,,,,,,,,,,
     
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  4. STexan

    STexan Road Train Member

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    "Broad statement"? What's broad about it? This is about as concise a way as there is to explain what a LP typically is. The average person who is going to fall for such a trap is NOT going to read a long, dissertation on the pit-falls of many/most LP programs so it's incumbent on those who have experience with them or understand them to define them as simply as possible.

    Or perhaps you could share with the class what you know about them. No, not all LP's programs are doomed to fail. If you have plenty of cash to get you through down times, if you have a significant amount of cash up front to invest, if you don't have any major break-downs, if you have perfect health and can run 48+ weeks year with plenty of freight, if you don't crash your truck or otherwise do something stupid ... you may make it through a year or two ahead ("ahead" like how a CPA would define "ahead", not like many with no business/accounting sense would define "ahead") But as noted, there are a lot of IF's and luck involved.
     
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  5. Rooster1291979

    Rooster1291979 Road Train Member

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    The original statement included all leases and categorized them as a bad idea. By definition that is a broad statement.

    I find your statement "those who have experience with them or understand them to define them as simply as possible" to be incorrect.
    Most of the drivers I have read on this forum that consistently give advice about leasing have 0 experience with leasing. There's a driver in particular with less than a years experience that has never leased, never will lease starting threads in the lease section of this forum giving advice on why leasing is bad.

    Reading about leasing on an Internet forum does not make an expert or give you any experience. Hearing about it at a Truckstop is even less informative.

    I have never driven a tanker. I have read about them, seen them and spoke to tanker drivers, but that doesn't mean I should be giving advice on the subject.
     
  6. STexan

    STexan Road Train Member

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    Are you listening to yourself? what part of "those who have experience or understand them ..." do you not comprehend? I don't know exactly how the random number generator on vegas slot machines work, but I know enough to know they are a losing proposition. This is an open forum and I don't think you're going to have a lot of luck telling members who may reply to "only post about things with which you are intimately involved or have vast experience with, and please post your credentials as a preface to the response"
     
  7. bigdogpile

    bigdogpile Road Train Member

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    yo,rooster.I dont have any experience in homosexual acts,but I will say I dont need to experience it,to say I wont do it.I know what I'm talking about when I say I wont like it even if I've never done it..Or maybe not.if he looks like a she but is really a he and I close the eyes and let it happen,could I be converted ??
     
  8. Rooster1291979

    Rooster1291979 Road Train Member

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    I don't think you understood my post. Let me clarify.
    I said I was tired of broad statements.
    You said it wasn't broad.
    I said it lumps all leases, good and bad, into 1 category. Bad. That marks it as a broad statement.

    You then said experienced drivers or drivers that understand them should give advice.
    I said most of the drivers that give advice on leasing are not experienced and do not understand the details in of a lease. Leases are different with every company, and unless you are have seen that contract and understand how that company runs freight you do not understand that lease.

    I realize this is a public forum. I realize anyone can comment about anything. That's why I said "I was tired of these broad statements", not "you have no idea what you're talking about so shut your mouth."

    i apologize for the confusion.
     
  9. Rooster1291979

    Rooster1291979 Road Train Member

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    You seem to be curious about it. Give it a shot. Let us know how it turns out for you.
     
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  10. bikerdaddy

    bikerdaddy Bobtail Member

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    The way I see it , my opinion is worthless in a tide of opinions . Posting the actual contract , is different . Now I've given a person the chance to read the facts , maybe get some advice . Especially considering the standard MO is to shove it under a persons nose with a pen and say sign !
    Hell I've read it a few times and still get a headache . My son in law was the reasoning behind my rooting one out . Nobody wants to hear the in laws opinion but he took the copy gladly . I'm happy to say he had an attorney look at it . The guy paraphrased it as a rent to own contract , they find any glitch to say your in default and sue you for the entire term . Then resell the truck to another guy.
    He signed on with a small outfit and is saving for a down payment for a traditional loan . I'm kinda of proud of him . He put in the time and research to come to his own decision .
    I don't know what other LPs are like but like I said rather than express another opinion . I had the chance to let people form their own by posting it . Maybe if everyone who gets the opportunity does the same we can look out for each other . The big lines would rather we all just kept throwing opinions out there rather than the facts . Because we just cancel each other out.
    give a driver the facts & documents he can make an informed decision . We can't know the whys or what's behind someone wanting to do anything . I know I sure can't say I know what's best for them.
    I do like the idea of giving a guy the info beforehand ,and time to think . especially since the big truck line would rather he not have it . I've made more than my share of screw ups and I ignored the opinions . They actually spurred me on .
    We have enough folks trying to get in our Cheerios , if we can help a little without belittling someone I'd rather do that .
     
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  11. moraramis

    moraramis Light Load Member

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    I'm siding with Rooster on this one. There are fleece purchases ran by bad carriers, and then there are real honest to god leases ran by good companies. Some are just leases, and some will let you own the truck at the end of term. Some of the IC's I work for got their feet wet using a L/P instead of financing a used truck. Their leases had an actual buyout that allowed them to walk away from the lease without their credit getting hurt. Finance companies don't care that you suck at math, or that you didn't get that many loads during the week. They want their truck payment. The only buyout I've ever seen from a finance company is paying the full amount you owe on the truck.

    Finding a good lease and being successful in it requires the same research and investment you'd put into running any other business. If you do your due diligence and get a good L/P from a good company it'll give you an idea if you are even cut out to own your own business, or if you just need to stick with being a company driver.
     
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