DON’T LEASE

Neither, slow build up of debt before getting my CDL to the point that interest rates where keeping me in debt. My mother too, we lived paycheck to paycheck barely keeping her small house and paying bills and often not having money to do so.

Company driving did provide more income but not enough. Leasing did solve the problem. Leased for 2.5 years and was able to pay off my old debts, her old debts, replace the roof of the house which was rotted to the point of having visible holes, new furnace, new washer/dryer, new fridge/freezer, new central AC unit, AND save up enough money to put a 20% down payment on the 2016 t680 I bought 2 years ago. Only 3 months later at the start of 2020 I got my own authority, bought a cheap trailer, and have been independent since than. Last Feb I replaced that old trailer with a 2018 wabash for 28k cash. May seem silly, but it made me very happy being able to pay for that in cash coming from being nearly bankrupt and with the old debts gone, both my mother and I are finally living comfortably.

So yes, that expensive lease worked out very good for myself (and thus my mother). I know lease success stories aren't too common, but I'd say this is one of them.

 

This is what I've been saying for some time now!. I feel as though I'm missing the boat after a couple years of contemplating 'Buying/leasing' a truck. There is money out there & nobody can really reach their potential of successes whiles driving for a company whiles putting up with that company's ######## and crap on a weekly basis. However, I don't plan on Leasing onto a company through their lease program but rather privately leasing the truck through my bank (credit score is 830) $=40k down payment and running my own Authority via Loadboards and marketing my company directly with local warehousing companies locally for loads. Yes, working for a Unionized company was good for the last 20 years but I can no longer take the stress of some Uneducated younger Managers who lacks sense dictating nonsense. The
2021 global supply chain crisis 2021 global supply chain crisis isn't going to end anytime soon because the current backlog needs to catch up while also balancing out the supply for the occurring demand. I'd say by 2025 thing should start balancing out. There's money out there so those Owner Ops who hustle over the next 3 years can earn (gross) well over $1M. It's the Truckers time to shine!..

 

Yes of course you are the greatest business mind in the country.And super son the hero.Me I’m a lawyer and do part time brain surgery,I also date a French super model when I’m not trucking.So if I post it it has to be true right

 

Me too and I DO find the tax advantages in my favor

 

Sorry, did I somehow offend you by not failing at a lease or by not being against them?

 

If you wanted some actual details, all you had to do was ask. Scanned stuff and spreadsheets hardly take up space on a laptop so I still have the BOLs and details from every single trip I did while leasing.

I stayed on the road for 4-6 months at a time and only took a week off, mostly made my own meals, and am single with no kids.

Leased at TransAm for 1.5 years.
In that time I ran 218 loads (60 in 2016, 140 in 2017, 18 in 2018)
Totalling 208,839 paid miles (180,961 loaded and 27,839 empty).
55 loads under 500 miles
55 where 500-999 miles
75 where 1000-1499 miles
33 where over 1500 miles

When I quit TransAm in 2018 I rented a car, unloaded my truck, and drove directly to the JCT hotel to start orientation (had the job lined up before leaving TransAm)

Leased from JCT for 1 year.
In that time I ran 113 loads (73 in 2018, 40 in 2019)
Totalling 156,628 paid miles (144,406 loaded and 12,222 empty).
8 loads where under 500 miles
27 where 500-999 miles
30 where 1000-1499 miles
48 where over 1500 miles

So in total in that 2.5 years I got paid for 365,467 miles for running 331 loads. Of course a lot of that went to taxes, lease payment, and fuel. Company leased trucks are usually under warranty so not much went to repairs. The rest went to the other stuff I had mentioned in my earlier post. Paying off old debts etc.

 

I detect an undercurrent of bitterness and resentment in your snarky comment. I recomend a time of inward reflection and meditation while enjoying the fragrance of a CBD candle in a pleasant jasmine. Best regards TB John president and CEO of
BYOB&CBD Leasing.

 

And how much per mile I already 300k on 100k miles in 10 months on my lease

 

Hmm...I think TransAm was paying 0.90 a mile and JCT was paying $1.05 a mile at the time.

Mind you that I never stated I was making great money or that it was a high paying job. Just that it provided enough income to get out of debt. There are certainly better paying companies out there.

 

Abosulety brother not trying jab you just saying don't lease per mile you made it work for you that's what matters