Lease Purchase programs.... the scam I'm noticing about most all of them

Well after two leases that have gone sideways, I, unlike a lot of people that seem to reply to every L/P thread have some real life experience.

First lease I was doing OK until the company was bought out and the rules changed.

The second (current, but soon to change) company is just poorly run. This results in very inconsistent revenue to the truck. It's very frustrating to deal with. I have two and a half years left on lease and will be walking away from a large deposit, but oh well, I'll live.

With that said, what most people seem to not realize is that about 80% of the businesses fail across the board. So it seems that many in the trucking industry believe somehow it should be different for us. I'd say 80% of those that fail blame it on the lease without ever looking in the mirror. The lease is a small percentage of the problem. I'd say it mostly resides on the business owner/driver. They usually come from the company side without much if any business experience. They just continue running like they did as a co driver. Most couldn't tell you what they spend and on what. Don't change their driving habits to reduce fuel costs. Don't look at loads offered to see if they are profitable. Take too much home time. Basically don't focus on how to be successful.

I soon will be attempting my third LP, I have the experience to make a better CHOICE on what company to go with. I also have years of prior business experience to lean on.

Most businesses fail, most LP fail, not real surprising to me.

Behind most successful businesses is a business man who has failed before. Try it, learn from YOUR mistakes, try it again.

 

How about sharing the names of those companies? Many of us would value the information and maybe help us make better informed choices. This is, after all, a place to share information.

 

I'm curious on what rules changed because they can't just break the contract to their liking.

 

Didn't like my dog, "Vicious breed", LOL. No they can't, but the can leave you sitting.

 

I see what you say you are making and wondering are you in a L/P deal and after the 3 yrs are up will you have to pay a price for going over the 300,000 mile limit? you say you made this on 125k miles in one yr, in 3yrs that's 375k miles which is great if you are doing this. And what company gives you a $1.38 a mile, a lot would like to know who they are, so they to can get this.

 

Someone that can do a little research, refreshing.
I don't like to go negative on the forum. But the first DM I had cared and fought for miles. He got promoted. Second DM could careless, my miles dropped like a rock, requested a new DM twice. It just sucks now. The rate includes the fuel surcharge. It's a pretty standard rate for L/P. The short and sweet of it, the management is very inept!
So I'm moving on very soon as I don't see things getting any better, it seems many others have already left.

 

WOW! Some really good info on this thread. Thanks to the one's who sincerely gave. I don't DARE say what directions thinking about going tho in fear of some of y'alls less than complementing opinion. lol. That, I have researched. haha

 

Here is a good business plan........Save your money for a down payment. Get your truck the right way! This way you can take it where you want....AND ITS YOURS!!!! The Fleece purchase trucking companies can no longer hold you hostage and manipulate your loads etc etc.

The sooner you figure out that the fleece purchase program is a scam the better off you will be.

 

Same of drivel with no way to back up what you are saying. Yawn...

 

So the way to a successful trucking business operation is merely to save money for a down payment and buy a run-out truck that you can afford and "take it where you want." I'm so glad to know that.

Wait. What's that in my earpiece? The business savvy or experience is still the critical part?

Oh, my. And I thought it was going to be so simple.