Lease Purchase vs Company Driver

Discussion in 'US Xpress' started by jpaslick, Mar 6, 2012.

  1. jpaslick

    jpaslick Bobtail Member

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    Could I get some input on the advantages and disadvantages of a lease/ purchase with USExpress. I only have 9 months experience as a OTR Company Driver and considering the options. It seems too easy to get, but it would be nice to have a tractor paid for after 2 yrs. I'm missing something, what is it ?
     
  2. d o g

    d o g Trucker Forum STAFF Staff Member

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  3. Young_Gun

    Young_Gun Light Load Member

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    I haven't looked into it, but I have personally seen 3 people in tunnel hill turning back in their leases because they couldn't get the miles... Something to think about.
     
    123456 Thanks this.
  4. train1478

    train1478 Bobtail Member

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    Advantage,
    no force dispatching run the lanes you want.
    go home an stay home for as long as you want.
    fuel when an were you want.
    after ABOUT 2yrs truck is yours
    have repairs dun anyplace you want.

    Disadvantages.
    just because you stop an go home truck payments don't stop.
    you pay for EVERY thing.fuel,hotel,repairs.
    insurance is more.

    just to name a few things.
     
    bigdipper Thanks this.
  5. CharlieMoon77

    CharlieMoon77 Bobtail Member

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    i can help you with some tips if you decide to lease purchase your truck,

    1-RUN SLOW. turn your cb off, put on the sirrius radio and chill lol
    The slower you run and max your fuel mileage the further you can run with less fuel stops. which means more net income.
    2- Get your regular P.M's done every 10-12k miles spend the money to make sure your truck is running in good shape. ( usx requires a 90day d.o.t inspection to be done).
    3- Your truck will usually have a 550k mile warranty, so everything will be covered till then.
    4- Dont turn down every load you get, just because, you have to run consistent miles to make your truck payments, insurance and other misc items.so crunch the numbers and make it a daily routine. its actually fun to see what money you make per trip and how much fuel you need for the trip etc.
    5-RUN SLOW lol, this really is the most important thing.

    I did the lease purchase with usx and have had a paid off truck since october 2011, and after all said and done, im glad i made the move to step it up, no regrets, and a good learning experience.

    if you have any more questions let me know

    drive safe
     
    ATL-1 and bigdipper Thank this.
  6. pete3871

    pete3871 Medium Load Member

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    Let me ask you something.In two years would you like to be the proud owner of a base model century with a cat engine that will avg around 5.5 mpg and need a 20k$ inframe rebuild on it?I know because I leased one of those P.O.S. from USX back in 08,and it only had 240k on it.It broke down 17 times in that one year.I spent over a month in motels that yr and would have been broke if I had any kind of bills to pay like rent,mortgage,car payment,wife kids,etc.I was going to go elsewhere then they offered new petes on one yr leases.did pretty good with those.USX came up with the scheme to lease to own they're old company trucks because no one would buy them.The 07's with detroits in them were sold because thats a good engine and has some value.Another big problem is the autoshift trans.Why has USX gone back to manual trans?Because of the huge maint cost on the autoshift.

    Come on man,you're a Texan,do the math.None of it adds up.I noticed you're pretty new to trucking and I try and help new guy's out all I can.I'm trying to give you some solid advice.Go to motor carriers questions and read my story under lease operator for ACT.Then if you have some more questions,just ask me!USX isn't trying to help a driver out and get him going as a o/o.USX is in the buisness of milking ever dime out of every fool that walks through they're door.I know,I was one of them.
     
  7. CharlieMoon77

    CharlieMoon77 Bobtail Member

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    ill agree with you about the cat engine, heard some terrible stories about it, i guess im one of the lucky ones, detroit series60, 14.0L 515hp, havent had to do anything with the engine over the course of 4.5yrs, did replace the radiator because of a stupid deer decided to run out in front of me, anyways, im very happy with my truck and wouldnt ask for anything else...as far as the auto tranny, replaced the flywheel early on ( maybe 3-4mths within taking on truck), thats it.
     
    bigdipper Thanks this.
  8. CharlieMoon77

    CharlieMoon77 Bobtail Member

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    oh the repairs to the tranny was covered by the warranty at that time, so no out of money expense. woot
     
  9. thasharp

    thasharp Bobtail Member

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    So charliemoon77 you would say that usx has a good lease purchase program? I was wondering because you are the only one i can find with first hand experience. Will you be able to make the money with the loads? I don't mind the running and i understand the ups and downs with the truck industry. I am new to the lease purchase idea and wondering do you think i will make it with usx lease purchase program? Oh and how long was it before u got the title to your truck if you don't mind me asking? Thanks
     
  10. NoCoCraig

    NoCoCraig Road Train Member

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    Before you go with the USX Lease Purchase, check out Lone Mountain. You can lease a truck for $1,100 to $1,400 a month (lease to own) You will make payments for longer but you will get to pick out the truck. You do need a down payment however, about $4,000