Lease Purchase Programs?

Discussion in 'Lease Purchase Trucking Forum' started by CaptainX3, Jul 3, 2013.

  1. DE36535

    DE36535 Light Load Member

    Joined:
    May 11, 2013
    Messages:
    192
    Thanks Received:
    147
    Location:
    Foley, AL
    0
    Work and study hard to make yourself one of the 15%. And remember: these trucks weren't invented, designed and built by the majority who used to say it was impractical to sell products all the way on the other side of the country.
     
    Chinatown Thanks this.
  2. Trafficcontrolxl

    Trafficcontrolxl Medium Load Member

    Joined:
    Feb 19, 2009
    Messages:
    487
    Thanks Received:
    445
    Location:
    Omaha, NE
    0
    Sadly I would not argue too much with the 15/85 success failure rates he lists. But then again I spend a lot of time working with new lease ops and it is sad how many have very little understanding into what it takes to be successful in this industry. Years ago I owned a handful of trucks outright and yes I made more money. But then I "retired". A few years and a divorce later I came back into the industry without the means to purchase a truck outright. So I have leased with the same sense of determination and work ethic I put into it when the titles were in my name. I have done well for myself.
     
    chalupa Thanks this.
  3. 123456

    123456 Road Train Member

    Joined:
    Oct 22, 2010
    Messages:
    10,555
    Thanks Received:
    5,747
    Location:
    32179
    0
    any link to those stats, thanks.

     
    knuckledragger Thanks this.
  4. MysticHZ

    MysticHZ Road Train Member

    Joined:
    May 28, 2010
    Messages:
    5,902
    Thanks Received:
    5,726
    0
    Leases are like witches ... there a good one and bad ones.

    It's pretty basic model to find the good ones - your miles to break even should be equal to 1/3 of the amount of miles that you can reasonably expect in a given week ... do that and you can take week off and still never go in the hole.
     
    Chinatown Thanks this.
  5. TripleSix

    TripleSix God of Roads

    Joined:
    Apr 10, 2009
    Messages:
    18,936
    Thanks Received:
    132,549
    Location:
    Copied in Hell
    0
    Stopped reading at $.90 cpm. You do know that your check would be $.10cpm, don't you? For you, that would mean a 75% reduction in revenue....you sure you want to do that?
     
  6. CaptainX3

    CaptainX3 Road Train Member

    Joined:
    Nov 10, 2011
    Messages:
    1,408
    Thanks Received:
    1,057
    Location:
    Fort Worth, TX
    0
    Well, I definitely plan to be part of that 15%. As far as I can tell, leasing is the only viable option. It wouldn't be a smart idea to try to buy a truck myself nowadays and try to survive off of load boards. There are just as many that fail doing that as there are that lease through companies. And either way you end up with a truck payment. And saving to buy a truck outright is just not practical in today's economy... company drivers just aren't paid enough to save $150,000 anymore.
     
  7. CaptainX3

    CaptainX3 Road Train Member

    Joined:
    Nov 10, 2011
    Messages:
    1,408
    Thanks Received:
    1,057
    Location:
    Fort Worth, TX
    0
    I should point out that what I read was .90 per mile plus the fuel surcharge, which ranges between .35 and .45 depending on prices. So it would actually be 1.25 - 1.35 per mile total.
     
  8. CaptainX3

    CaptainX3 Road Train Member

    Joined:
    Nov 10, 2011
    Messages:
    1,408
    Thanks Received:
    1,057
    Location:
    Fort Worth, TX
    0
    I saw this forula somewhere and applied it based on rates I found for one of the companies I was considering.

    According to my calculations, if I ran 1/3 of my normal miles (in this case, I put 900 miles, assuming a 2700 mile week on average) and after all expenses and fuel, I was $95.63 in the positive. So basically break even. And, that's assuming the highest truck payment for a brand new truck (which I won't be doing, I'll get a used one for less), and also assuming only 6.5 mpg, which I had better do better than that. Hell, in my Cascadia now I drive with my foot to the floor and still get 7.3 on flat terrain. If I slowed down while driving my own truck, I bet I could hit 8.
     
  9. TripleSix

    TripleSix God of Roads

    Joined:
    Apr 10, 2009
    Messages:
    18,936
    Thanks Received:
    132,549
    Location:
    Copied in Hell
    0
    After everything is said and done, that's still less than what you will make if you are making $.40cpm or more.
     
  10. MaximumTexas

    MaximumTexas Light Load Member

    Joined:
    Jul 15, 2010
    Messages:
    168
    Thanks Received:
    69
    Location:
    TEXAS
    0
    Is there any way an driver could clear $1K a week after expenses on a L/O?
     
    Last edited: Jul 9, 2013
    Chinatown Thanks this.