Best company for lease purchase

Some people who do not know what they are talking about, probably should not say anything at all

 

You're trucking experience says "Wannabe." So I'm going to assume you are either looking to get in or are really new to driving.

First, as an inexperienced driver, you don't need a lease! This is a good way to go bankrupt and loose everything you have. Being profitable in a truck is as much a matter of driving technique as it is business experience and luck. You're going to need a lot of experience first!

Second - each contractual environment is different, and is going to affect each individual differently. What works for me, may be a nightmare for you. If I tell you company X is the way to go, I'm going to be wondering when you're going to come after me for ruining your life!

My honest advice is to find a carrier you can driver for as a company driver and maybe move into leasing, get a lot of experience, decide if you like the company - then after a few years, go to their leasing office and ask for a copy of the lease. Run the numbers and see if you can be profitable. If they won't give you a copy of the lease, forgedaboudit!

Good Luck!

 

Great advice

 

Whats all the L/o going to do when fuel goes to 4 and $5.00 ? Will they still make any money? I know all you drivers are on the road alot and don't get to see much news. Im waiting on my school date and have been watching alot of news. There is alot of talk that it will get high this year.
Good luck to all the l/o and o/o. i dont mean that the wrong way, realy wish everyone luck.

 

Just about every company offers a fuel surcharge that is tired to fuel prices or a fixed fuel price (regardless of pump price you pay like $ 1.25 a gallon).

 

At $3.50 a gallon, with fuel surcharge , we only pay $1.05 a gallon

 

I would think that if there were any good lease programs with ANY carrier that they would have posted. While I can predict that nearly everyone who does one will lose their shirt, you can always check with some of the carriers who do them and see if you can get a copy of their lease. Take the lease to an accountant and see what they say. There have been almost 100 posts on this thread. I would think that if there was a good program that they would have posted it by now.

Without having some driving experience and/or business experience you will not be able to objectively evaluate a lease. You have no idea of what they tell you is truth or not. Some numbers that they may give you are going to be best scenario rather than average. It is very foolish for anyone to get into a truck that costs them upward of $800/week, especially when you look at the rates offered and your lack of experience.

If you want to be successful in any business, you need to get some experience in that industry before you go it alone. I don't understand why so many people will get out of driving school and jump into a lease when they don't know anything about this business. You would probably not do that in any other business. Why would you do it in this one?

I don't understand why anyone would pay $800/week on a truck that they will likely NEVER own, when they could purchase one and spend $800/month or less and actually own the truck in a few years.

It takes money to operate ANY business. Trucking is a very capital intensive industry. If you don't have any money saved, then you are NOT ready to become an owner operator. Unfortunately, most who lease a truck would like to consider themselves an owner operator. An owner operator OWNS the truck. A lease operator RENTS a truck.

There are leasing companies who will lease you a truck where you actually own it once you complete the lease. You will need money for a down payment. Some will require at least the first months lease payment up front. Others may require first and last two lease payments up front. You will also need decent credit. Lenders also look at length of time in the industry. If you have a couple of years experience, decent credit and a good down payment then you should not have any trouble getting into a truck.

If people were doing well leasing trucks from their carrier I would have expected them to jump in and let us know how they are doing. Sometimes saying nothing makes more of a statement than saying something.

 

Ok, don't walk away, RUN away. FSC is at $.42/gal. At that rate you are making les than $.70/mile.

 

I started as L/O and made good money. And I would still not recommend it to anyone unless:

1. You have been driving for two years

And

2. You find a company that you OWN the truck at the end. But even this is not a great deal.

To compare, my weekly fixed for an 06 Volvo 780 withless than 450, 000 miles, brand new apu, solid warranty, 06 dry van, insurance and all my permits, etc. is less than $ 600/week. I have seem truck and insurance for a rough looking truck be more than this (and driver is making $.60 less per mile than what I am). But if you want the quickest way to o/o then that would be the route.

 

Now why would I run away from a job I have been on for over two years. That $.42/gal is for loaded miles, we get it for all miles. I have been in the trucking industry for 35 years, as a company union driver , and an owner operator. At this time in my life the contract I am under now, suits me just fine