Want to avoid getting burned by a lease-purchase agreement?

If you guys would start to stick together, not brag about your apu's, and penny pinchin ways, a take a stand against this type of practice, or at least get in OOIDA's but and make them do the job they claim to do instead of making APU builders rich and doctors with those instant meals, things can begin to look brighter. By the way Preacherman if man made it dont eat it was taught to me bya a man who lived to be 95years old. Jack Lalane

 

May I ask what dealership you're referring to I hope its not lone mountain

 

The best advice would be to leave your ink pen at home.

 

It became more lucrative to bring those loads Upstate on the rail then drop them for a local or less than average regional pickup by you guys.There goes the neighborhood and your big income,to boot!If you hustle on the drop and hooks you still have a fighting chance to make the truck payments...but not much more.Best to go intermodalwith JB while you can still tread water and hope for the best.At least you'll get to spend more time with the family.

 

Let me put my 2 cent in to this. 1st there are companies out there that if you do a L/P they will burn you, to say that there isnt any would be a lie to all of you. 2nd Can you find a company to do the L/P with that you can make it in the answer is yes. What you have to do is research to find them because most of the companies out there will stick it to you. Now I did the L/P from a company and I did very well. Was it hard yes it was did I have to work at it yes I did. So I am saing is that it can be done you just have to be willing to work at it and DO YOUR RESEARCH to find the right one

 

Does any one have a recommendation on LP? I was recently laid off from my desk job and looking to get back into trucking. I had a dedecated route several years ago, FL to NYC/LI with multiple stops (10-15 stops...Queens, Brooklyn, Staten Island, Bronx and Long Island) As you can see i have what it takes lol . I recently tried to get a loan from several banks but was declined due to unemployment. Amazing, i have over $100,000 in equity on my house, with 4 years left to pay off and no bank will even give me the time of day. Decent credit but no job lol. Any help would be greatly appreciated.

 

Are banks not writing home equity lines of credit anymore? Put together your business plan and apply for a loan at your bank. Offer to put the house up as collateral if you think your plan is strong enough.

 

They are but, my main problem is that i've been unemployed for several months now. They would easily give me a loan if i was currently working. I really want to have my own truck but i'm scared of these LP programs. I guess i'll have to stick it out as a Co. driver for a year or so and see what happens.

 

I heard alot of bad press about leasing through Prime back in 2005 have they got there act together yet?

 

you know i dont even care if i rent the truck or not. I wanted to drive a T700 so I leased
I like all the extra's on transam trucks co or lease. My miles have been enough that I am happy enough for now
I have made more money and less money I will be 59 on Saturday I realize I will be here next week either way
The big houses didnt really improve my life nor did a bankruptcy ruin it
If I am going to drive OTR I am going to do it comfortably