Company offering a lease purchase, paying 81% of linehaul plus 100%FSC

I am a company driver and would like some advise on a lease purchase company offering 81% of the linehaul plus 100% FSC. What does that even mean? They're saying average is $4500/wk. Sounds too good to be true to me. I've never made that kind of money but would surely like to lol!

 

They pay you 81% of what the load pays. Then you also get 100% of fuel surcharge if the load has any fuel surcharge. The fuel surcharge can be played with. When I was at Landstar different load had different fuel surcharge.

Unless you see the actual paper work on the load they could also say a load pay $1.50 per mile or $2.80 per mile. Landstar had the rates on every load posted. So you decide for yourself if the rate per mile is enough for you to make a profit.

 

Do a search on this site for “lease purchase”.
After you have read about a hundred of them telling you not to do it you should know what to do.
It’s real simple, if you don’t have the cash saved up to buy a truck on your own, you’re not ready to be in business.

 

Don't.

Not even if it seems good.

Its not.

81% - truck - fuel - maintance - whatever else they charge for.

The issue is they may have you running at $1.35 a mile like those shafer idiots do.

I have news for you, it costs $1 a mile to roll down the road. so you could end up at 5 cents a mile, and what will you do?

The contracts lock you in, or are written so you lose a ton of cash if you leave.

Run.

Now, is not the time to get INTO O/O trucking. Be a company driver, look for 2500 a week if you have experience, or 1500 without.

 

What is the name of company offering this program? Type of trailer? Area of country? How are you able to find freight? Can you book your own loads? Or are you tied to a dispatcher? This is important info to know.

 

What lease purchase program do you know that allows you to book your own freight?

 

Very solid advice.

 

Not really ...

 

Why do you think it's not solid advice? Read the stories on this forum about all the failures people have had with lease purchases. As a long time owner operator when I bought my 1st truck I put cash down and I financed the rest. I would never do a lease purchase or recommend it anyone. I'm sure there are success stories out there. But I don't know anyone who's been successful at it.

 

Then go sign on to ego, LOL