Star Transpotation (lease/purchase)

Discussion in 'Star Transport IL' started by Mamma Bear, Feb 26, 2009.

  1. Mamma Bear

    Mamma Bear Bobtail Member

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    Feb 24, 2009
    Aurora, CO
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    Hello. I am in need of some information if anyone has it.....my Boyfriend is looking at the possibility of leasing on with Star Leasing out of Springfield, MO. Just wondering if anyone has "the scoop" on them. I would really like to hear/see your positive and negative experiences.
    I kind of feel like this is too good to be true, and don't want to have to move into a friends basement if my boy ends up not being able to help pay rent because of a bad situation with ANY lease/purchase. I'm really leary about this anyway, so HELP!:biggrin_2552:
     
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  3. Lilbit

    Lilbit Road Train Member

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    If it sounds too good to be true, it usually is. Lease purchase deals only benefit the company. There are very, very few who have ever really made it on a lease purchase deal.

    How much experience does he have? It's always good to have at least a couple years as a company driver before even looking at going owner operator. The only way to go owner operator is to buy the truck on your own, and have a good amount of money socked away to cover expenses.
     
  4. Mamma Bear

    Mamma Bear Bobtail Member

    4
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    Feb 24, 2009
    Aurora, CO
    0
    I told him this morning that if he decides to do this, when our lease is up on the place we are in now, I am moving into a place that I can afford on my own for my daughter and myself, just so that I don't have to be the one bearing the financial burden of somewhere I can't afford on my own if he doesn't get enough miles to send money home to help with the bills. (which is what I'm seeing with the crap-hole company he is leasing thru now).

    He has about 14 years cumulative experience as a driver, driving for guys that have an extra truck, as well as a company driver.

    I guess maybe I wish that he would go back to driving for a company and at least wait until the economy turns around a little bit before he tries this route again. Plus, its not feasible for him to make it through the house since he loses his ##### every time that truck shuts off. Even though its ok for him to have to sit and wait for frieght on a regular basis since his "dispatchers" wait til the last minute to try to find loads.
     
  5. Lilbit

    Lilbit Road Train Member

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    It's a rough time out there right now in the industry. Freight has dropped off big time over the last several months. Browse around on here for more info on the various company leases. Many have tried, some have been successful, more have not.
     
  6. Mamma Bear

    Mamma Bear Bobtail Member

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    Feb 24, 2009
    Aurora, CO
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    Thanks for your insight, and for an outlet to vent to those who understand!
     
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  7. Cowpie1

    Cowpie1 Road Train Member

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    Doing the company driver thing is not a bad option during this time. That being said, there is still opportunities for O/O. Even in good times, you have to really check a company out before signing on. Whomever you decide to go with, check out their customer base and what percentage of their operation is to any one customer. There are good customers that have what might be called "recession proof" freight, and they are not always of the food warehouse variety. A good carrier will have a low percentage (usually 10% or less) of their business with any one shipper. That way they don't get killed if thing go south with that shipper.
     
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