O/O lease program

Discussion in 'Ask An Owner Operator' started by LimpyLegs, Jan 12, 2010.

  1. LimpyLegs

    LimpyLegs Medium Load Member

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    So I know I want to lease my own truck,I've done a lot of research and figured that this is what I want to do and I heard that it would be better if I signed a lease/purchase with an owner operator only company because you don't have to compete with company drivers for loads.Is there any truth to this? I would like somebody to forward me to a few companies that fit that profile if at all possible.I'm trying to avoid leasing with a "CDL mill" if at all possible,thanks.
     
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  3. walleye

    walleye Road Train Member

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    NEVER EVER BUY A TRUCK FROM THE PEOPLE THAT YOU WORK FOR!!!!


    Spend some time reading the older threads about lease purchase,...

    There are a whole bunch of them for a reason,..And most all of it is bad!!
     
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  4. Big John

    Big John Road Train Member

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    Save your money and pay cash for a good $10,000 truck and you be better off and further ahead. Their is one reason a company has a lease purchase program and it because they make money off you. They could care less about your dreams of owning your own truck. Yes their are some sucess stories out their but very few.
     
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  5. Old Man

    Old Man Road Train Member

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  6. truckmike55

    truckmike55 Bobtail Member

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    yOU'LL END UP IN BK COURT
     
  7. snowbunny

    snowbunny Medium Load Member

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    Here's the thing...the good thing about the terrible state of te industry right now, is that you can buy a truck for a really low price. A new one? No. But many people are trying to get out from under their trucks.

    If you have no cash in hand, and or bad credit....WAIT. It is worth it. First of all it will give you the time to learn all the ins and outs, taxes, permits, costs, etc. You will have time to look for a good deal before leaping into something.

    As noted above, even O/O only companies need to make a profit, and they will do it at your expense. Think about it this way, if waiting a year puts 10K more in your pocket is it not worth it? There are the intrest charges, exsessive mileage charges, maintenence fund, high weekly payments etc.

    Best of Luck!
     
    Big John Thanks this.
  8. Big John

    Big John Road Train Member

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    Casino's get ritch buy taking your money and so did Prime.
     
  9. Big John

    Big John Road Train Member

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    I would love to get out from under mine and go and get me a $10,000 dollar ride but nobody wants to give me what I owe so off to work I go.
     
  10. LimpyLegs

    LimpyLegs Medium Load Member

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    Well thanks for the posts I got some good news,my step dad is a retired driver and he said he would help me go o/o by looking at the iron planet auction all I have to do is put up with the industry long enough to make half the down payment on an older truck.There's a concrete plant across the street from his house he went over there and made friends with the foreman so I'm no longer considering the lease program.Thanks again!
     
  11. coastie

    coastie Road Train Member

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