Who has completed a lease purchase and fully owns truck with title?

because i want to get back to 5 trk's and trl's and doing my own thing. with the divorce and the fallout from that it pretty well screwed me. So slowly getting there will probably be getting a trl soon and then another by first of the year. Never have nor do i want to ever be a company driver. also put my story out there so everyone who says L/P is impossible can see the other side of someone who is making it. do your homework and check perspective carrier out. not everyone is a crook in the industry.

 

that is so good to hear a company backing you up and helping, most will not do this.

 

What will you do different this time? The reason I ask is because I have plans to acquire 5 trucks/trailers myself. I don't see a divorce in the future but, I am sure you didn't either so I ask, what would/will you do different this time?

 

They are called fleece/purchase for a reason

 

Most leasers never end up with the truck, if you got descent credit, go to a dealer and buy a truck, stay away from Lone Mountain Truck Leasing, not much better than leasing from a company, high mileage trucks for to much money, JMO, they have company set up trucks that have be beat to death! Go to a dealership like Peterbilt, or MHC (Kenworth), if you have crappy credit, then maybe try Lone Mountain truck ? At least you can take the truck any place you chose, I know several guys that have paid off their trucks with JCT, yes you will not make much more than a company driver, but with crappy credit, you can get a NEW truck, pay it off, and you will know how the truck was cared for, but leasing from a company, you are NOT an owner operator! Your simply working for them until you pay off the truck, then you will be a O/O, you will not be able to change anything on the truck, such as speed, straight stacks, chicken lights, most won't allow this until lease has been satisfied, good luck

 

If you are just buying a truck, and start out by upping your speed, adding straight stacks, and chicken lights, you will most likely not make it as an O/O either... SO, what's your point????

Those things should come after you pay off the truck, and I Never added them. Period..... Those things really don't help the pocket book... The truck is a tool in your business plan..

Saw too many guys hit the chrome shops and adding fancy stuff to their trucks way before they had savings in the bank, only to fail when the first problems started to happen...

I do agree too many guys fail at L/P but most of them would fail buying their own trucks even if they had money up front...
They jump in without a business plan, without money in reserve, and put NO thought into getting a couple years experience first.. Very few can make it without planning and gaining experience. be it an O/O or L/P...

AT least some L/P deals are walk-away lease if you don't make it... Don't try that with a bank loan.. They don't want that truck back... And the IRS may come after you for some pay-back if you took too much deductions up front on that truck you were buying...


With some leases, you can take the truck with you if you decide to leave, BUT, if you did your homework in the first place, why would you do that to begin with??? Very poor planning, I guess... Jumping from company to company, is also another way to go broke...

Your post on JCT just proves that some leases pay off.. Others on this forum with different companies make it as well too... Most of those however, have a solid business plan, and foresight to do it the right way..... WITHOUT those chicken lights and straight stacks..... AND if all you think about is speed, you are sending those dollars up the straight stacks, but keeping those oil companies healthy....

 

There are many drivers who want a bit more control over things like loads and hometime, plus the challenge of operating a small business as profitable as possible. Many have no desire or interest in truck ownership. For them, renting a truck makes sense. It takes a certain arrogance - and not the good kind - for one driver who may or may not have leased or owned a truck to tell that other driver what's best for him or her in a derogatory, emotional way.

It is still okay to make decisions different from others and it is still okay to succeed or fail based on ones own performance. Let 'em succeed or fail.

 

what's the story on leasing from a dealer a new truck?
do you need an absurd amount of money down or what?

 

Probably just good credit, what's keeping people from going to the dealer in the first place

 

My credit is 730 but I don't have 20k laying around for a down payment though