Buyer Beware of the "Lease Purchase" Companies

"Can't fix stupid"....Rug Trucker well said.:smt023

Leasing maybe 4 or so year's ago ya,In today's economy I say no way.

 

"Can't fix stupid"....Rug Trucker well said.:smt023

Leasing maybe 4 or so year's ago ya,In today's econamy I say no way.

 

It never will suprise me... that you can't run your personal finances, but you can run a business. As in, you have to go with a lease purchase, because I have no credit and no money, you can't handle your money or credit, what make you think you can run a business. Some lease purchases that have a walkaway lease might be a way to find out if you can handle being a o/o , that way there you can say here, here is your truck back and not be oblagated to a purchase or payment each mouth to a life style (Job) you hate. Trucking is not a job it really is a life style not many can handle over the road. A o/o --- by the time you pay for taxes, insurance, upkeep, repairs, medical insurance for you and your family, etc. your pay is down to drivers wages or less for the year ! Just a whole lot of responceabilty to have the freedom to say I can do as I want.... and that only means if you want a pay check that week I still have to keep running I can't go home ! If you want to own a truck then I sugest that you save at least 5 grand for a down strok and that is only after you get your credit straightend out is when you should then buy a truck. That would mean you really want it bad enough. Otherwise, sign your lease purchase, and I wish you the best of luck, you will need it, thats just my 2 cent...

 

Actually the $5000 figure is way low!

Why would anyone try to become an O/O (L/P's are NOT owner operators! It's an insult to O/O's!) Or L/P with NO OPERATING CAPITAL in the bank? If you do NOT have enough OPERATING CAPITAL in the bank to tide you over for 3-5 months then why do you THINK doing an L/P with no cash in the bank is smart? As Sewerman stated if you have NO credit why do you THINK you are a business man?

That's why most of these people who sign a fleece/lease FAIL! They start out with NO MONEY in their pocket and then try to live pay check to paycheck and THINK they can survive all the while the wife, kids get nothing to live on and the bills pile up until you loose everything you own because you have NO business sense, then we see you on here or hear you on the CB or at the truck stop diner counter whining that it's the companies fault!

It's YOUR fault because:
#1 you had NO OPERATING CAPITAL to start out with.(OPERATING CAPITAL is what pays your ALL of your bills until the pay from the BOL's start to come in.
#2 you did NOT thoroughly check out the company you are about to sign on to
#3 you signed a lease with out reading and UNDERSTANDING it or having a lawyer read it or OOIDA explain it to you. A fleece/lease is not written where a high school or college education means you understand everything written in it!
#4 you came straight out of a driving mill and took the first job with a bottom feeder who would hire you and you can't even back up yet and didn't do numbers 1-3!

Sorry, but if you sign the lease/fleece please don't whine when you realize that these 4 simple ideas stand true!

 

I have done my own business. I have done alright. When the economy is good it is good.

With most companies you are locked into a set rate. Somethimes you are force dispatched. Sometimes turning down load can get you on the wrong side of the powers that be. They won't offer you anything decent hoping you go away.

That is why going O/O I would look into Landstar or similar operations. Book my own loads etc.

 

Or have that OPERATING CAPITAL before you start and forget Landstar and the others as you will own your tractor, trailer and authority!

 

LOOK i dont see why yall keep bashing leases not all are bad. i cant name off every good one and you shouldnt generalize every lease deal as bad

i drive 6 days wk i just cant cross state lines AND I CAN POST ON HERE YOU CANT STOP ME and if you could on what grounds that i make a point and you cant prove me wrong about what i say

yes the truck depreciates and yes a house gains but IN THE RIGHT CONDITIONS you wouldnt buy a house in a gang riddled are no matter how good lookin it is and you surely wouldnt buy if it buy your family at danger and comparing house to truck is apples and oranges

if a person wants a truck and doesnt have the money down and its a good deal and he has his own and cand do whatever with i dont see how he losses

 

if a some makes money at that company they are stupid how is that

 

why do you think any company would lease a truck ?

 

so they can make money off you and so yo u can make off of them

and the dont have to pay any of the operating costs

as the saying goes the right hand washes the left. when they make money you make money just like arrow they arent making money anymore and neither are the drivers

when you run cheap freight so does the company but hopefully it gets you in a better area so yall can both start making money