lease purchase

I have a lease purchase with swift i know that will start things there but i do well there not to say everyone will but it works for me i make good money after everything is said and done i will say i have had some bad weeks i wont lie but most are good i know if i was to buy a truck on my own the payments would be alot cheaper but for now this is the way i desided to go ...

 

can you share how much are the lease payments and monthly insurance?

I will like to buy my own truck, but cannot make the down payment. Leasing will be the only option at this time.

 

If you can not get financing on a truck due to credit and or money problems,what would posses you to think you can own a truck? Do people actually think companies provide them out of the goodness of their hearts?They do it because they can get an L/P to haul it cheaper than paying an employee, but somehow L/P's think they make more. I will never fathom the logic people use in deceiving themselves.

 

That makes sence to me judging by the posts on here. While I have never experienced the L/P plan, I don't see it as being a good thing. While you might make more money, you don't have much left over come pay day. Where are your medical, dental, vision and retirement benefits? Can you even afford those? Not to mention all of the state and federal deductions that must be taken out. What about a maintenance fund? What about paying yourself? I know there is more but again I have never done the L/P thing nor would I want to. Sounds like a big mistake to me.

Drive safe

 

And that would be because they can charge drivers for the privilege of making the payments on those trucks I do not mean the payment itself(which you will pay),I mean a separate fee(don't fret it's embedded in that weekly payment you'll never even notice) they make a profit on for sending in the check on your behalf.

The business model has been proven by CR England,Dart, Prime, JCT, Etc. Etc.

Between that and driving schools I would hazard a guess only about 50% percent of their net profits are actually derived from hauling freight

 

Best way to do a L/P is dont do it if you wont to be a O/O you need to buy a truck on your on dont be a company driver with a truck payment thats all a L/P is lots of good places to go and buy your first truck with little to no down money.

 

you can buy a nice late model truck for around $25K these days. if you can't save $25K after working a decade or so, you suck with money and don't have the money handling ability to be a sort-of business man.

fleece options are nothing but scams that unethical companies use to sucker newbs who know NOTHING about the trucking business out of what little money they have. if they pitched their nonsense to a grizzled old trucker/OO like my brother, he would stand up in the middle of their presentation and announce that they have an excess amount of feces in their bowels.

 

and what do these companies all have in common ?? they are all bottom feeders who drive freight rates down....why ?? because they make their money off lease purchase.....

 

Just my $0.02 worth here, but there is an advantage to leasing from a dealer that certain folks might benefit from. If you are running your business as a corporation you can deduct 100% of a lease as an operating expense versus simply depreciating your trucks value over five years if you were to purchase it. In some instances this could be a BIG difference.

Some dealers will work a lease-purchase that works the same as a simple interest loan with no buy-out at the end of the lease and a fixed interest rate. I personally wouldn't even discuss a lease/purchase with ANY trucking company that offered them. I don't like the idea of a company having that much influence over the operation of my business, which is why I am not a company driver in the first place.

To each their own, but I would caution anyone thinking about a L-P through a trucking Co. If someone out there is really considering it you should look to a truck dealership with conventional financing. If you can't qualify for decent rates you might think about focusing on cleaning up your credit, reducing your debt to income ratio, and trying again later. I have never heard a small business owner with good credit, getting low interest loans, and running their business as they see fit complain about how they just got screwed by the company that offered them a " A deal with no credit check and no money down". These folks know to steer clear of a bad deal. No deal is always better than a bad one.

I am back quiet now.