The Feds Just Announced All Lease Purchase Deals Should Be Banned

You're referring to chameleon carriers. That's been addressed years ago. It still happens but very rarely these days.

 

Thats the problem. People with sub par credit will fall for this scam. If you dont have the ability to purchase your own truck from a creditable source. Remain a company driver until you save up enough to go on your own. You will make the same or better money and not have the BS of paying a company to haul their freight.

 

Sort of like how people run up credit card debt? Or use payday loan businesses? Where should the line fall when it comes to the government running someone’s life?

 

Subprime mortgages are regulated. This isn’t much different is it?

 

I’d say that comparison would hold more water if someone was actually financing a truck and didn’t have the ability to simply walk away if they want to.

If someone is broke and has bad credit there is very little risk for them to enter into a lease purchase. There’s no credit check, no down payment. They have no skin in the game but think they will be rewarded for no hard work while getting into a truck. Yes they are sold a dream, but they also enter into that contract under their own free will as an adult.

Predatory? Yes. But the flip side of that is anyone that can do math will know it won’t be an easy road to go down. Hurricane Express ran ads in Truckpaper way back in the 90’s getting guys to lease purchase big bunk 379’s. 30 years later is it their fault if people still willing show up at their office? The majority of the population has acces to Google yet people think they will be the one who beats Hurricane at their game because they’re smarter than everyone else.

 

Don’t forget the “BYOB” ads plastered on the back of Dart’s trucks!
Wonder how many people lost their butts over there!

 

I wonder if their phone number is still 800-drive 379. Or whatever it used to be. I almost forgot all the big houses they used to run.

 

Big bunks and spread axle trailers. I was in high school back then and knew that the math wouldn’t work out. lol. I wish I would’ve kept some of the old Truckpapers from those days. Shelby Elliott always had big ads with all the junk he was selling.

 

Werner ran all Pete’s and Freightliner XL’s and a big selling point was no more logs to fill out. Jim Palmer had sharp trucks too. Lot of stuff has changed since then.

 

In a nutshell, it's one thing to make a very poor decision, another to be outright swindled.

God bless every American and their families! God bless the U.S.A.!

The absolute sheer driving force of our national economy - without truck drivers, our entire national economy would come to an absolute standstill - if not outright be dead.

Over the mountains, through the woods, into the valleys, coast to coast, from sea to shining sea - truck drivers can and do go anywhere and everywhere, every day, every night, all year round.