Lease purchase dealer questions

Why do so many people with little to no experience think they can get out here and make 50 cents per mile or more. Bro, just stay where you're at and get a year experience. If you could get two, that'd be much better. You have to be patient and put in your time to get money. The cpm is not the thing you need to worry about. The more important thing is the miles. The money you're making in the era of elogs is probably in the ball park of most company drivers. 42 cpm is not bad if you have steady miles, and im talking north of 2500. There many companies that will advertise 50 cpm or more, and they may not have the freight to keep you running. The thing you need to focus on most is getting experience and everything will fall into place over time.

 

There are changes to the tax code effective in 2018, and you will no longer be able to deduct work related expenses unless you are an O/O. No more deductions for on the road meals or business related purchases. Just getting that out there.

You work exclusively for a guy that pays you on a 1099 but he doesn't pay your workers comp? Not sure that's legal, but I also assume you don't have any medical insurance since you are living check to check, so you are just one illness or injury away from not being able to work at all with no type of coverage for the injury. I hope you are also putting aside at least 20% of each check to pay taxes at the end of the year, especially social security taxes which are about 15% of your income. If not, you'll never make it as an O/O.

I know it sucks, but you should be concentrating on finding a better job with a carrier that offers full benefits, and maybe ditching the truck you're making payments on and getting a less expensive vehicle you will own free and clear. Work on getting your personal expenses down. I know it seems impossible, but you can do it. Honestly there isn't any way for you to lease a newer truck with poor credit and no collateral of some kind like equity in a house, and the fact that you have bad credit to boot. Unless you lease on with a company you simple won't qualify for a lease any other way, and we all know that leasing on as a company driver sucks enough already.

 

It's a good job to get experience on. Once you have a year in the industry and keep your nose clean, you can probably find a similar job with better pay AND benefits.

 

I know of two truck sales outfits that are not bad and can probably work with you ... they can get you into the game and start making some good money. The first few months you will need to save every dollar you can afford to create your buffer zone in case of emergencies etc... The only concern I would have is what carrier would take you on with your experience. I do flatbed and most of the places i know of would want more experience. Send me a message if you want to know more.

 

Is hec leasing a walk away lease or are you stuck with the truck you lease until it is done?

 

Is that the "Plan to fail" business model?

 

I'm sure he has a backup plan model.

 

The truck was collateral. They got me a tittle in my name with them as a lien holder on it. I paid it off early and they were responsive to make it happen.

They really did not want the truck back and would work with folks to keep them going.

That being said. Of the 5 leases I heard about. 3 were turned back in over mechanical/electronics issues. Those were all 2010 ISX Petes with over 400k miles. There is a reason the factory warranties all end about then.

After the length of time that has passed since I picked mine up, the staff may have changed. Do appropriate research and "sniff test" of the operation. Also check for recall and warranty issues on the trucks and confirm they have been done. One of the reasons I used them was that the feeder fleet, at that time, used the dealer networks for maintenance. And had all the records.