Should I lease after my 1 year is up?

Agreed. Leasing, put as simply as can be explained, is YOU paying all the bills for the exact same job you are doing right now instead of your company. Your net pay stays the same.

Want more pay? Go to a company that pays more.

Six back quiet.

 

No. Avoid lease-op. It's like reading a book on card counting and then betting your life savings in Las Vegas the next weekend after you finish reading the book. Lease-Op is a great deal for the company and very risky for the driver. You are contractually obligated to pay the expenses of operating a commercial truck yet the company is only obligated to let you pay. They are NOT obligated to give you enough miles to even pay those expenses, let alone enough miles to pay expenses & take some revenue home.

 

I can help you with Algebra. Learn the acronym PEMDAS. It’s your friend.

 

As a current lease op, a lot of the previous comments are spot on. A guy told me once you're never supposed to run for the same company you lease from and I kinda laughed. Over the last few years, I've grown to understand that more than ever.

 

OP,

I believe you can do it. I have confidence in you. Ask yourself:

“Who deserves this more than me? Why should other mopes get to do this and not me? I’m a swell, charming, smart pilgrim. I got more on the ball than the rest of these mopes. That settles it! I deserve to treat myself to this adventure. I WILL be a success! I WILL have opulence and ALL that it brings me, including those little giraffes”.

You do believe in yourself, right?

 

Depending on the person, the answer to should one lease can be yes or no.

For you it's no ... One simple reason, if you understand how to evaluate a business opportunity you wouldn't be here asking the question. You'd know how to ascertain the answer for yourself.

 

You know, I used to sit at a desk inside a trucking company that pushed HARD for drivers to lease-to-own. they were nearly always trucks where the maintenance had been deferred, and I knew that not one of them had more than another 150,000 miles left in the engine before it would be needing an overhaul. Yet, time after time, these dummies would take this lousy deal and within a year they were broke and still paying on a dead horse.

So, here's MY advice; don't even CONSIDER buying your own truck until you have 5 years experience. Save your money in something liquid but interest-paying, like a money-market fund, and then don't buy a truck until you can put 50% down. Buy one that's used, but recent. And get the truck and the financing on your own, do NOT, under ANY circumstances get your company involved with your financing.

 

Ok, first let me say. I'm currently leasing a truck now and am successful.... however.... .most of the lease horror stories you heard are true, there are very few companies out there that offer a lease that someone will actually complete and BUY the truck.... BUT, that isn't the biggest issue. With 1 year in the industry you don't have the experience yet that's required to select the right company for you much less to be able to successfully run it as a business. I mean you no disrespect, it's just the simple truth. It'd be the same if you bought your own truck outright and didn't lease. You really do need a few years under your belt first..... although there are many horrible companies out there offering bad leases, the biggest problem is the guys signing the contracts, too often guys sign on the dotted line with no idea what their getting into......PLEASE, do yourself a favor, DONT lease or buy, YET. Give it some time, learn all ya can, experience the ups and downs of the industry. Revisit this idea in a few years if it still appeals to you then.

 

A poster who asked for advice and actually listened? I may faint.