The Feds Just Announced All Lease Purchase Deals Should Be Banned

Let's just hope they don't make you wear a helmet when flying.....

 

And, wrinkle my flowing locks? Bite your tongue!

 

Companies are not lease/purchasing. This action is directed strictly at Predatory Lease/Purchase programs foisted upon new entrants at the beginning of their careers or uneducated extant drivers by megas and shady 1099 companies.
Also if a company is indeed leasing equipment from a large Ryder or Penske style leasing company and said company fails the equipment is simply returned to the owner and is re leased or sold.

There is a huge difference between leasing truck and lease purchase. Ryder and Penske don’t do lease purchase. You either lease a truck from then or you may purchase a truck from them. They may help arrange financing for a purchase but that is NOT lease/purchase. You’re conflating two different things.

 

Some companies actually are or have.
Believe it or not we (briefly) actually leased a fleet of International LT tractors (presumably for a trial basis). We got rid of them quickly when drivers complained about the room(or lack thereof).
For years (literally over a decade) Western Express was known for its lease purchase program that drew in plenty of suckers into paying off their trucks-both in their flatbed and dryvan divisions!

Some of those poor souls got suckered into driving those POS International ProStars equipped with “Maxxipad” engines back when they had them!

 

Whew caint do no caviar emperor, i aint eaten no #### raw fish eggs i dont care how fancy .

 

DSV/Sammons trucking out of Montana. They no longer offer a lease purchase deal as far as I understand

 

You are the ONLY individual I know that ever completed a lease purchase but following your posts it seems like the outfit you did it with are not even in the same county with the crappy megas that con folks or force then into fleece purchase. It seemed they did actually want you to succeed

 

I would say the same , but it still was incredibly hard. A guy can make way more money just buying a truck and leasing on somewhere

 

Perusing this thread and a Western Express Lease/Purchase Program ad pops up. Who wants to jump into that one with both feet? What could go wrong?

 

I don't see a thing that could go wrong. As long as your flights to the Bluegrass aren't interrupted....