A truck driver 12 years in the making needs help

go to OOIDA website or landline site they might be your choice for real help.BTW. if you don't know these two (sorta speak) groups You should not be thinkin bout buying or leasing peace!

 

Leases are not designed for anyone to win but the company period.

 

How About JCT lease - lease to own, one dollar or one cent at the end of the lease???

 

No lease program is worth the paper it's written on. You make payments no matter if you run 3500 miles or 1800 miles. Lease programs are set up to help companies not the driver. You are at their mercy for miles. I doubt that the agreements vary much from company to company. You pay for fuel, maintenance, escrow (with some companies like JB Hunt), disability insurance, truck insurance, health insurance, truck payment on an old truck with lots of miles on it. Many have an early termination clause, meaning when you do realize you are going broke and want to break the lease the company will penalize you. JB Hunt has a $3,600.00 penalty for early termination.

 

Not necessarily TRUE, it is a violation of FCRA for them to require you to pay the balance off if you decide to lease on with someone else, provided you remain current on your truck payments.

This is ALSO illegal, they can NEVER keep the unused portion of your Maintenence FUND. You would have the PRA (Private Right to Action) or you could wait on OOIDA to file a class-action to get your money back. But I don't know why ANYONE would rely on OOIDA to do it, and expect ANY money back.

 

JB Hunt kept $1,800.00 of my husband's escrow.

 

DONT DO IT!!!!!! Save your money, get your credit straight, and put a down payment on a rig. Then you can take it to carrier of your choice in order to keep the wheels rolling.

 

real simple,a leased truck is a rental vehicle that you must maintain.sure,you'll get a new truck but--let me ask you this,was your first car a new one?was your first job high paying? when you lease from a company you do not get the discount they got when they ordered those 100 trucks at one time.add up your lease payments and buyout and you'll see you are paying full retail price on that unit,sometimes even more.let alone the interest charges. as with anything nobody starts at the top(unless-well i won't get into the gutter).buy something decent,work it for all it's worth,then upgrade to a newer/lower miles unit.do this a few times to get that "new" truck.that way you'll have earned it! just keep some cash or business credit on hand to keep that "first truck" going while you decide if owning/operating is what you want to do.although you can walk away from a lease,you can be charged for excessive wear whether or not it existed and this can affect your credit. i saved,bought my own,with payments under 600 month on a three year term.if i want out i'll sell it for what i owe and write the other off on depreciation.like the others are saying,many times your dispatch will only make those big payments/fuel/insurance and permits.(actually mine's already paid off-but you get my point)