What are the right questions to ask a trucking company when joining a lease purchase program

Discussion in 'Lease Purchase Trucking Forum' started by dashaker, Apr 28, 2016.

  1. Wickedfire77

    Wickedfire77 Road Train Member

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    Lower your expectations.
    The average lease OP doesn't make that. And if they do, it's not consistant.
    If you are gung-ho about doing it, forget about who pays the most and find the lowest fixed cost.
    Keep that low and your chances of making money go up.
     
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  3. dashaker

    dashaker Light Load Member

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  4. ExOTR

    ExOTR Windshield Chipper Extraordinaire

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    Insurance/plates/permits/truck payment. The costs that are still due each week whether you are running or not... IE instead of getting a paid vacation as a company driver, you'll be taking an unpaid vacation but still owe 500-1000$ for that week. Same goes for breakdowns... A lot of lease drivers fail when they don't have the reserves and a month of constant breakdowns keep them in the shop 75% of the time.
     
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  5. Wickedfire77

    Wickedfire77 Road Train Member

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    And this is why you aren't yet ready. Do more research on what you are getting into.
    Do more than asking questions on here.
     
  6. nofreetime

    nofreetime Road Train Member

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    So you want to do a lease purchase to enable you to save money so you can purchase a different truck? I don't even know where to start. You realize that most lease purchases require a down payment typically between $5, 000-$15, 000 right?

    A lease purchase is a path to first time truck ownership for those who could not otherwise be granted a business loan. There are a few good l/p deals and many more bad ones. The good ones can work however it can be a rigorous processes, requiring dedication, perseverance, know how, and very importantly some operating capitol to pull you though rough patches. I would suggest having your personal bills payed, along with food and spending money for three months, and $5, 000 in the bank.

    A lease purchase is not, the road to instant glory and $2, 000 paychecks for those who are uninformed, uneducated, wouldn't know the difference between a good a load and being thrown over a barrel, and would thus be incredibly easy to take advantage of. Stay company and save your money that way.
     
    Once a Rookie and FLYMIKEXL Thank this.
  7. nofreetime

    nofreetime Road Train Member

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    You're not ready to take on the responsibility of making payments on a $150, 000 truck. There's a bunch of great info on this site that could get you up to speed, best get to reading.
     
    Last edited: May 1, 2016
  8. w.h.o

    w.h.o Road Train Member

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    A lease guy makes the same as a hard working company guy. They just got more headache to deal with
     
  9. dashaker

    dashaker Light Load Member

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    i understand what you guys are saying im currently taking online classes for a associate degree in business i have a few months left... i knew what a fixed cost meant but as for trucking i didnt know what that consist of...i have ran into several drivers that lease trucks that have told me they do it for the money and i would tell them how much i make and they be like i wouldnt get in a truck for that...ima jump into that water and see cause i kno how to swim lol thanks alot for the info
     
  10. Once a Rookie

    Once a Rookie Bobtail Member

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    I work for a great company in North FL I make great money with them and best of all they are great people to work for and there is absolutely no drama. However I want to have my own once again but to do so at this point my only option is to do a L/P with a larger company but I just can't decide on the proper direction to go. I have friends at both Mercer and at Jones and all of them say they are doing well but at the same time I hear about the $1.34 cpm freight that they are having to haul because they can't afford to bounce 500 miles to get in a better lane. With that being said its not really about the money for me because most weeks I am in the 1500-1600 pay range while so many in the L/P game aren't doing much better. So what's a person to do? Do I stay here making a check every week and keep doing the same ole same ole or do I jump into whatever comes next?
     
  11. Wickedfire77

    Wickedfire77 Road Train Member

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    What is your endgame ? Are you after truck ownership or steady no drama paychecks?
    Take a deep breath and realize how rare the position is that you are in , making that much as a co driver. I'd stay put and enjoy paid vacations and health benifits.
     
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