You're guilty of LEASE-LIKE activity

No, looking at it that way I always felt like I piad too much for my truck when I paid cash in full so maybe I got a good deal after all?

 

Your wrong...

 

Lease purchase guys pay extra far above what anyone financing at 8% will over the term of a loan and paying cash is no guarantee of success.

 

Every lease purchase plan I've seen has the selling price of the truck way above actual retail prices... and you are responsible for paying for repairs on a truck you don't even own... how much sense does THAT make?

My friend did a lease purchase with one of the big carriers back about 5 years ago (2005). The truck he got was an '03 Century.. a plain jane fleet job with 400,000 miles.

The lease acquisition cost was $78,000!!!! That's what his lease payments were based on... he was told that was fair market value and he was new to the biz so he bit... I think he lasted 7 months before the $550.00 per week payments plus a maintenance escrow and all those little deductions put him under.

He told me the carrier required all maintenance be performed at their home shop which he rarely saw... they charged him $280.00 for an oil/filter change with a chassis lube... he wasn't allowed to do it himself as it would not be counted as being performed in accordance with his lease and would automatically terminate his lease agreement... with a penalty, of course.

 

What about Paclease? Are they better than carrier leases?

 

ANYTIME you can't pay cash for something, you'll pay more for it......