Lease Purchase, Is it worth it?

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I can name two l/p programs where you can go home consistantly and whenever you want without ensuring you'll go broke.

1. Shneider choice

2. Crst malone

Location of your home might determine how often you can realistically do home time but you'd have the same issue as an o/o.

 

ATS has a 1 year lease.

 

Did you lol at equity's lease program ? All their trucks are gliders and rebuilds with the Detroit 60 with 10 or 13 transmissions. 262.40 truck payment each week plates ifta and insurance are $25/40/65. So your costs are already lower and the odds are in your favor from the start. Fuel discounts at loves are 25/40cpg off pump price. Your maintenance cost are a set .15cpm (paid miles) and that is a bumper to bumper warranty. Yes that means if your engine goes in three weeks, they put you in a loaner free of charge and rebuild yours or replace it. Now the lease is usually 3 to 4 years but you can pay it off early. The pay starts at .90cpm all miles and fsc on loaded miles. Once you pay off the truck you move to $1.16 all miles plus fsc loaded and you pay your own maintenance. So that means you'll have 3 to 4 years or sooner to get your truck pristine bumper to bumper at a fixed rate of .15cpm. Now if the incentives are better at the dealer I want to know. I guarantee you will make more money and spend less on repairs doing a lease like equity's vs buying a new truck from a dealer. Just my 2 cents.

 

I did with a small company here in Phoenix. Making money is no problem, and I was home for a 34 on the weekends.
It's not free to get into though $5K down payment $525/wk. for 4 years. Made $1800 to $2000 week before taxes, after all expenses & overhead. Paper logs, ungoverned truck. Most organized guy I've ever worked for. Plans you out for 2 weeks at a time. Everything here is D&H. We run strait out and back to Phoenix, there is 0 waiting. If you want time off you need 3 weeks in advance or he won't give it to you lol. He's a mad scientist. Pays all deadhead. I got paid my full rate to drive back to Phoenix from Dallas & Houston empty.
It's big boy trucking, there is 0 hand holding, and I heard the man say to several guys " Your a big boy, a grown man........"
Truck was '13 Cascadia loaded. Tri- Pac APU. All new Dunlap's. Old Slime truck. 212K miles / warranty until 600K.
Prices are down right now though, you can steal a nice one from Freightliner for mid $80K's. They will sell you one, you need the down, the credit, and a letter of intent from the company you are going to work for.
That's a better way. Cause then you can change companies, just get the letter from your new company before you leave the old one for the finance company.

Anyone that would pay Prime $1,000 week is out of their F mind. And then there's the little $47,000 balloon at the end. If it was such a great deal, why would they SPAM career builder in every city looking for suckers, I mean drivers?

Just buy a truck and lease on to Landstar or a company that pays %. You'll live happily ever after.
Everyone talks #### about JBHunt. OK, their wait time for L/P is a friggin year. Now I'd go there also as O/O. O/O with your own truck you could probably get right in. Their L/P is down to earth though, you get used Freighty for $300 week that will make you money.

Or you can get suckered somewhere else into a $170K truck. Yea wake up every morning knowing you gonna crack that nut on e-logs every week. How stress free that must be.

 

Are all lease programs paid on a fixed weekly rate.or is there companies that take. Percent off the miles? Just curious

 

There are about as many different ways to get paid as there are companies offering L/P. They areally all over the board. And the devil is in the details. With very few exceptions lease purchase is designed for the company, not the driver. Even the few really good ones should be considered a stepping stone to being a true O/O, and not a career plan.

 

Thanks MrEd

 

Your absolutely correct,my buddy is a lease driver for snider choice, and he's home quite often

 

With the right company it' s the best decision. Without company support you're not gonna succeed.

 

I laugh at people who ##### on a 600 dollar a week payment . How much do you think that new FL will cost you @ 170 k and 10% for 60 months through a bank , new owner operator with excellent credit ? Lol