BEST LEASE PURCHASE??? (to head me towards ownership)

I do not know about Swift's situation, but I do know most carriers will give the higher paying loads to their trucks, and leave the lessors with the lower stuff, if on %.Yes, it is done.

 

try risinger I am a owner op there but Ive talked to many lease drivers who seem to be happy with their trucks

 

Lease-purchase contracts sound too good to be true for a reason. If there was so much money to be made by owning a truck, why would the company be trying so hard to sell you theirs?


http://www.ooida.com/blogI/?p=185

 

I read the article in LandLine about LP's - "Consider the Odds". What odds? The only numbers I found on the page came from the page numbers, year of the publication and some adds.

And worse than doing no actual research and providing us with data the article made assumptions from opinions based on ignorance.

These programs hurt a lot of drivers. And like my earlier post asking LP drivers that claim they are doing well to provide some details on what they are doing different. I would ask for OOIDA to provide some actual facts when writing an article about this segment of the business.

And what is worse, several of the claims made in the article have these companies conspiring to defraud people entering into these contracts. Why is OOIDA not taking legal action? I have worked for some of these companies and find it very hard to believe that the number of lower level people that would need to be involved to commit the fraud that is outlined in this article would be very large. And non of these people have come forward in all the years that these practices have been taking place? I find that very hard to believe.

OOIDA - Please leave the conspiracy theories to the people people posting from bunkers on TTR. You have a responsibility to publish based on facts not "trucker stories" that support your beliefs. While bashing LP programs is popular your reputation for reporting based on verifiable information should be more important than gaining some easy brownie points.

 

They did file that huge lawsuit against CR England and its LP practices and won the drivers their money back. Other than that, I have no idea lol

 

I can speak for Swift ... average mile per week on a company truck is 1750 ... That's lot of capital and employee overhead sitting around doing nothing. If you have hard time making efficient use of your equipment, maybe contracting it out might be a more cost effective use of capital.

 

One problem with OOIDA is that they have had a number of members who made poor decisions and failed and then came to OOIDA to save them. They did the same thing with the broker bond. Some people should simply not be in business. We all need to take responsibility for our own actions. If you choose to do a lease with a carrier, there is much that has been written and most of it has been negative. If you don't do your research and fail, don't blame the company. You should never start any business without doing your research and having a good understanding of what you are getting into and running the numbers. I don't agree that most of the leases are written so that the driver or lease operator will fail, but there is a very high failure rate. I would wager that most don't even bother to read the contract before they sign on the dotted line. Perhaps the main problem is that most of the carriers who do them will lease a truck to a driver who has little or no experience, no capital and no investment in the truck. These drivers usually have little or no experience owning a truck or in any type of business. They don't fully understand the risks or what will be necessary for them to be successful. I don't think that you should blame the carriers for giving drivers what they want.

 

I don't know why so many believe that succeeding as an O/O in trucking is so much different than opening a store. You still have to research, understand the business climate, comprehend fully the expenses involved, etc.

I guess it's just the instant gratification aspect that grabs most drivers.....

 

Read the lawsuit and what they won on. It was over a technicality in how the companies where structured and not the practice of using escrow funds to pay debts. That still goes on. Not crying for CRE but also not waving the banner that this was a huge victory by OOIDA for the abused.

 

i should not lease a truck from the same company getting the loads ever, you are at their mercy if you do that, is simple logic to think so.