jb hunt lease purchase scam

-You still need to take out taxes and social security etc. = Fleece !!

-You may have some bottom-feeders like CRST, CR-Fleece laughing at your payouts -but at least you are +_+ ---> many fleecers go negative.

 

Not much though, because you never made any real profit.

Get a good tax preparer, and you may even pay less in taxes than company ... since you earned a lot less.

I've talked to a few JB lease ops who were doing OK, and yes some have paid off the truck ... and they suffered.

I say OK because these persons lived out of the truck for months at a time, with no major bills. If you have a mortgage, car note, and children - I wouldn't suggest this.

The deeper into the lease you go, the worse off you could be. You see, when you pick a truck - let's say at $350 per week, you will have to pay that amount the entire three years. You gain absolutely no "equity" (such as in a "true investment"), and there is no account for depreciation.

But yet if you were to turn in the truck at 90 days, the next person will pay about 5% less - and so on.

The trucks are valued at numbers from a couple years ago, and overvalued today - just compare with the Truck Paper.

The Idea of a balloon payment (which they so "graciously" pay off for you at the end) is misleading since ... it's your money anyway from overpayment - and the arbitrary truck overvaluation system they use.

The truck will have been thru countless company drivers, former lease's out of warranty, 7-8 years old, and around 7-8 hundred thousand miles by the time you pay it off.

Now imagine being 30 or so months into the contract, encounter a major event that requires you to exit the truck. If you can't buy it outright - you loose everything. All the payments, and they will slap that "balloon" payment on top of that since you didn't finish those last few months.

In this economy, they would have to "give" these trucks away if on the open market. They lease them to get as much revenue out of them as possible - and they make a bundle.

Business owners have one thing in common - the ability to sell there services to the highest payer. Lease ops cannot ... lease ops are not business owners, since the company decides your income.

 

You got a valid point there: Many of these fleecers live in their truck. =You can probably make it at only $79 a week if you can keep your idle down and use your PilotPoints to stock up on those giant Pilot burritos. I wonder how many New Prime drivers live like that.

 

POW! Gotta love that gratuitous swipe at Prime!

 

It's Christmas time and a time for giving.

I know for a fact that CRST Gold Rush fleecers live off those Pilot Points and at a penny a gallon those points do indeed add up. 2 smaller burritos = $3 plus tax, if you cut them up you could maybe get those to last for a week or burn them for heat (dual use).

When you fleece it's all about survival. But if you team fleece and screw someone else into fleecing they will pay you extra and give you the red carpet fleece treatment. -still get shafted in the end, but still a better way to go and they make you feel "special" indoctrinated etc.

I've seen many great fleece teams break-up over who gets the PilotPoints however. -It's quite sad, but happens often.

 

You may have exercised poor judgement but that doesn't make J.B. blameless for being the greedy scum they are for allowing that to happen to you or anybody else.

 

A company Cannot force dispatch you if your a O/O-L-P. If they do this a court and the IRS will tell them your a company driver therefore they will have to pay S.S, income taxes ect. All L/P is a way for a company to not pay all those taxes on you.

 

not every time not all companys are out to screw drivers

 

Correct but who are the good ones???So do youself a favor and run away from any lease right now.

 

Do explain to us exactly why a company would give a driver money they could make for themselves.

They use L/P's (you are not an O/O despite what you believe:1) because they are cheaper than company drivers.Between savings on taxes, maintenance, and profits from marketing older trucks it is a business in and of itself.









1:If you do not decide the rate, time, and destination of your loads you are not an O/O period.All you have done is accepted the costs of maintaining the truck.Even if it is outright your truck.