Need Advice on becoming an O/O

Ok you two...you both have valid points, and I have been reading them all. I don't know everything about the trucking industry, so it has been very enlightening to learn some new things. Snowwy, like I said the company I worked for did give the money back to the drivers (O/O) who leased on with the company or L/P drivers that paid off their equipment and left. Now I was just in charge of doing the settlements and deductions, but the person over accounting made the checks payable to the drivers for their escrow accounts. Now the thing I didn't know is that a company has to pay interest on the escrow, so I learned something new.

So thank you both.

 

So to give you guys an update things are going farely well over at D&T with my hubby. The way they have their program worked out is much different then most of the lease to own offers out there.

He got a 2007 Freightliner Century that has 740,000 on the odometer, but the engine mileage shows 450,000. I can't figure that one out, but if someone can explain that one I would appreciate it...and it has a carrier APU along with a new clutch, brakes, and they just did the maintenance on it. It was originally a Crete truck, and they did show him the maintenance records on it, and it is no longer governed which makes him happy when it comes to climbing mountains.

So this is the breakdown for expenses:

$375 a week for 18 months
$115.38 a week for 12 months (6,000 dollar buyout put in escrow)
$50.00 a week for 2012 plates and permits(prorated for the rest of 2012)
$50.00 a week for 2013 plates and permits
.10 per mile for maintenance escrow
$50.00 a week for bobtail and PLPD insurance
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So the fixed weekly costs are $525
and the unfixed weekly cost is fuel and maintenance escrow

So compared to other lease to purchase companies that require $3000 in escrows and truck lease payments that are $600-700 a week, it is worked so that a driver succeeds. Now the downside is that they don't get paid for unloaded miles, but extra stops are $25 beyond the first and last. They also pay for the first month of tax services which is $70, but you can cancel after that if you want to do it on your own which I will. Now once your buyout escrow has been met then you can take the extra $115.38 a week and apply it towards getting the truck paid off sooner.

So all in all the total purchase price is $33,900 which isn't bad, because I have been looking on the trucker paper to see what the average is for that type of truck. They have ranged from 26,000 to 49,000, so we aren't on the low side but we are not on the high side either.

So thank you all for your advice, and yes I did take into consideration what everyone said. Things are finally looking up for us since I won my disability and will start getting my payments along with back payment very soon.