The odds are in favor of the house

Rollin' On, what may be unacceptable to you as far as net revenue or take home pay could be acceptable to someone else. For example a financially impaired driver with no credit and no money who wants to own his/her own truck and is willing to live in it until it is paid in full. The L/P is an opportunity for them.
I know there are some " fleece not purchase" programs but NOT all if them are. Even with an honest L/P program, the contractor must be efficient, make wise choices and put unnecessary expenditures on hold. Remembering they are going into business with no money. It's not easy but itcan be done.

 

Ya but, what smart person enters a business with no money besides a fool?

 

Someone with no money

 

Perhaps I was a fool when I started out. I bought my first truck with no money down. I think about a year driving experience, no formal mechanic experience.
I think I am smart and didn't think I was on a fools errand starting my business with no money in the bank. I used all my savings to pay for insurance and my first tank of fuel.
The person I bought the truck from showed my how/where to grease and lube the truck.
I made my first run and was paid when finished, repeat.
Now to let out a secret. $6,000 is not a big risk, unless it is all you have.
That was me. I built my business to 6 trucks,2 employees and 4 O/O's
12 other employees.
No budget for luxuries in life suffered.
Now it is just me, less overhead and less headaches.

My next step is to hire on with someone else. Then retirement after a few years.
Good luck to all who try.
I was just lucky I enjoyed what I was doing and the wife did too.

 

Your one of the lucky ones, glad it worked for you

 

No I don't believe luck had much to do with it.
Hard work, good work ethics and doing as much of my mechanic work as possible. I was lucky in having a mechanic shop that allowed me on the floor with the mechanic so I could help(which saved money) and learn (which saved me even more money).
For the first few years I did all the driving and support paperwork and filings. No more than any other O/O does to succeed.
Like most businesses you get out what you put in. I believe most Risk is manageable.
Like equipment break downs. Engine failure such as internal breakage, not much you can do about that.
I do a lot of preventable maintenance, which includes changing accessories before they break. Oil pump, air compressor, fuel pump. Yep many of those items still work ok when I change them out.
Saves on a tow bill and fixing away from home.
I will overhaul my motor this summer. Probably could run it a couple more years if lucky. But a week down at my choosing at home and not on the road. Well I think its worth the $8500.
Then I can ride my truck into retirement.
Or perhaps HalpinUout it has been just luck.
Good luck to all.

 

I went thru a lease. Lived in the truck praxtically for 48 months. Got the title found a shipper to work for that makes plastic containers worldwide corporation with contracts with Pepsi Proc Gamble and huge list of others. My loads are extremely light. I avg between 1.10 up to 1.31 take home after fuel expenses. The lease was a jail sentence but worth it in the end. Working for a shipper cutting out the brokers is so much more profitable. I have more than double my income and home every night 95% of the time. As an owner i have loads that pay 600.00 and drive 175mi. Under a lease same load pays 207.00.
So doing a lease is not designed to make you successful. On avg i made .38 mi before taxes, So be prepared to make huge sacrifices under a lease . And make a plan to exit with the title. If not its all for nothing . Your a company driver making truck payments. You might as well go to work at Mcds and pay for the fryers and never own them basically thats what your doing if you dont have an exit strategy. So good luck everyone

 

It's not true I do very good in my lease and once I finish the truck will be mines and then I'll be set.

 

You can't prove it because it's not true. I am doing just fine in my lease and I got 5 friends same company same lease who are doing just fine themselves. I'm making money I've never thought I could make and will soon own my truck and that will bring in an extra 30000 dollars a year in profit due to know truck notes. By the way I'm on year two 1 more year to go.

 

So what you guys are saying is if I want a truck save and but it out right or borrow from a bank or anything besides doing a lease purchase.