Best company for lease purchase

One question; have you personally done a lease purchase??

 

One question, have you ever done a lease purchase??

 

If i have bad credit but have a good down who finances used trucks

 

You can try Lone Mountain in Iowa.

 

No, but I don't need to be hit in the head with a hammer either, too know the results aren't going to be good.

 

Canuck...where in Western PA do you live? Do you have open deck/flatbed experience? Send me a message if you are interested in discussing opportunities we may have for you.

It looks like you are mostly considering open deck companies. I would highly recommend this. I feel that flatbed rates are starting to come around in a lot of areas. Things are not great yet, but have rebounded much better than van rates, at least along my lanes (MN, IA, MO, WI, IL, MI, IN, KY, PA, MD). When (if) the economy really starts cranking, rates on the open deck side will go up far faster than the van side. Open deck capacity is already at equilibrium, and many carriers are getting rate increases. Shippers are concerned about open deck capacity. I think the van side of the business has a much longer path to travel before carriers gain more control over pricing.

From what I have seen Anderson seems to have more freight than the other 2 right now. I am not sure if this is because their rates are still at '09 levels, or if they are that busy. They do offer shippers more than the other two as well with company trucks and different logistic programs. Mercer and Landstar can only offer capacity at the rates and destinations their drivers choose. All three are good companies and I know drivers that have been successful at any of them. Landstar will be the most like running your own business. You will have to learn to secure your own freight within their network of agents. Mercer would be pretty similar. I am not exactly sure how the ATS system works. Also not sure if you would get paid % or mileage at ATS.

There may be other opportunities for short haul steel hauling in you area. I am not sure what kind of money those guys make, but you could probably be home on a regular basis.

 

Then what makes you an expert. Have you ever been in business for yourself?

 

Not claiming to be an expert.

The cards are stacked against you. Think about it. You have no say over your income. They control everything, including how many miles you get. Are they paying all the waiting time at the docks? Layover?

It is a one-sided deal in the company's favor. Why put money into a truck that isn't yours?

It sounds like your mind is already made up. Good luck.

If you do pull the trigger, make sure its a walk-a-way lease. That way if it doesn't work out, you won't lose your shirt.

 

I have to agree with frdr. I have seen very few lease plans where you make more money than a company driver should, and you have no benefits. Also, the lease plans I am familiar with seem to be more of a revolving door than a way to get ahead. The truck is usually 2 years old at the start of the lease and worn out when the lease plan is done. So you might own it at the end, but you have no equity in it. I don't see the point. Keep driving a company truck and working hard. Save those pennies. Finance a decent used truck (under 200K miles) through a bank. Keep paying yourself your company driver wage. Pay the truck off quickly. Continue paying yourself the company driver wage. Money continues to build in the truck account. Now you are getting ahead for all your hard work. You will be financing a smaller portion of you next truck. Repeat this process over a stable career and you will be successful.

 

There is no best company for lease purchase. The best way to own your own truck is to buy your own. Lease purchase in most cases is not set up for you to ever own the truck. It's set up for you to fail. That's how it is. You'll make more money as a company driver rather than a lease operator. If your goal is to own your own truck, save money or go through a bank. If you are new to this industry, then drive a company truck for a few YEARS and learn the industry, learn light mechanical work and put money away for a breakdown escrow account. There is a lot more to being an owner-operator than just driving. You have to be a true businessman as well. Accounting, road and fuel taxes, knowing how to run efficent while making your trips on time, and knowing who to lease your truck on with or getting your own authority. Leasing a truck through a company teaches you nothing about how to run a successful trucking business. Best of luck to you.