Lease Purchase Programs Are Not Bad! (Let Me Explain)

I see no issues with using a walk away lease purchase as a learning process for being an owner operator. If you do well, you buy a truck and keep going. If you don't do well, you return the truck and head back to the company driver position. It saves thousands of dollars of investment money you may end up trashing.

 

I watched the entire video. I honestly don't understand the animosity toward people who are making a LP work for them or why they would attack you for posting a video with advice. If you can help even one person make it work, why wouldn't you? I was in CA about two weeks ago and spoke to a LP driver with Interstate and he seemed to be doing really well.

 

If its a walk away, I agree. Turn the truck in and call your old company to see if they will take you back or drive for a new company.

 

What do you learn running on a mileage pay lease with forced dispatch. Just enough to know that you have to work your arse off to get buy. You don't learn rates and lanes, all your insurance, tags, ifta, and billing is handled by the company, repairs are at their shop or dealer.

I say doing a lease from a mega and buying your own and being on you own is different as night and day,

 

Three years on the road and he is still a rookie?

 

The devil is in the details. I bought and paid for 2 tractors from the carrier I was leased to, northAmerican Vanlines in the 1980's. They were more like a purchase, loan interest and terms clearly spelled out, titled in their name until you either paid it off or turned it back with no penalty or repossession.
If you start to involve other contractual items like mandatory maintenance funds or early termination penalties then it can and does become a lousy deal.

 

Serious question...

How would they get the knowledge and experience of all those things without becoming either a LP operator or and O/O? Either way, its a risk.