The more I research Lease/Purchase the more I realize....

I'm brand new to the whole industry and have been researching relentlessly and which way to go when I do decide to go out on my own. Lease/Purchase sounds like a great idea however is extremely unpopular and the success rate is low. A lot of truckers claim the reason for this is they are getting burned by the program. It's the same story over and over. "They screwed me." "They only let me take certain freight and I had no say in what I hauled." "I was able to make just enough money to make the weekly payments but could not etch out a living." I noticed how nearly all of the ones who failed said it was not their fault while the ones who are successful said they read the contract, were prepared for breakdowns and conducted their own research. I believe in order to be successful a driver needs to fully understand how the program works and needs to be prepared for unforeseen breakdowns. A driver should also go over the contract with a fine tooth comb and needs to have a decent understanding of how owning and running a successful business works. The fault does not lay with these companies offering the program, but with the person who signs the contract without fully understanding what they are getting themselves into first. Portraying yourself as the victim when its your own fault is one of the worst qualities a person can have. I don't think I would do a lease purchase myself mainly because I am extremely inexperienced in all aspects of trucking and do not believe I am ready to take on such a huge financial risk, but it is very enticing and can be a great opportunity. So it is understandable why someone would risk it, the rewards nearly outweigh the risks.

 

WOW! Thats what I'm beginning to see from my coworkers even though we are more heavy equipment operators more than truck drivers we all have our CDLs and do operate Semi Trucks hauling gravel and equipment. What I mean is they are all over confident in their abilities and believe they know everything and when you say anything or make suggestions its always the same reply..."I know." I see from lack of seat belt wearing and lack of listening they think they know and therefore I could easily see most of them just signing on the dotted line before reading because of this. I wonder if it's like this everywhere and if so it explains why these companies can easily prey on drivers.

 

Even though I don't have the experience to give advice it seems this happens to truck drivers of all abilities and I wonder why it is so unsuccessful. From what I've noticed from my work and the forums is a lot of drivers seem to be arrogant and over confident which can be dangerous when it comes to signing contracts and making financial decisions. I don't know maybe I'm being overly critical and lack the experience in the industry but I do understand human nature and know to read before signing.