lease purchase

I already said that but what are you arguing about? Some contractors own others rent from Home Depot they both get the work the guy who owns makes a little more so what? Lets get down to it. You like a lot of guys worked your A__ off to rat hole a little cash to buy your first rusted out s__ Box truck. You paid it off and got another one. Paid it off and they gave you a new one. Leases allow to skip these steps. Oh well suck it up. My last word, I have better things than to argue for the sake of the fight. Go in and watch TV in the truck stop.

 

Go flease purchase a truck, then come back an whine about it. I'll be glad to tell ya "Told ya so" Like alot of wannabe's (I don't know or care if your a wannabe or not) you just know its a good deal because the company told ya so. That and the fact you want to "skip" a few steps of the O/O process. Oh well~ you'll learn.

 

I can count the same lease trucks sitting at our terminal time after time. I can't count the drivers complaining not only did they didn't get a paycheck, they were in the hole. I can't count the hours they spend in the shop from their worn out trucks. I can't count the times lease drivers ignore taxes and blow the money faster than it comes in and they wonder what to do tax time. This isn't a car lease attracting people with excellent credit. These are no credit check leases painting false pictures. If you have good credit, you can buy a truck or lease from a dealer. If you have bad credit, what makes you think you can handle the business aspect with a bad track record?

Tell me what you have to gain from a company sponsored lease?

 

But they told me I could if I just signed up. I just wanna be like the big boys~ except I wanna skip a step or two along the way.

 

What the new guys don't understand is, we started out with nothing and work from the ground up. It was a learning process. They are going into the L/P without having a clue and when they realize it, its to late. Thats when reality sets in!

 

Get a sheet of paper, and list the advantages to driving a company truck on one side, and what you think you will get with a lease on the other.

Keep in mind, if you take a company's used up truck on some plan for X dollars a month, and then make it all the way to the end, you then own a high mile, very used power unit that will need some expensive maintenance and the company may or may not finance your repairs and tires and then start your "lease" again.

If you want to be an O/O in the business, save some money, buy a truck with 400k or less for the price of a pickup truck, and get moving. I see a lot, and I mean a lot of trucks out there for less then $15k that I would drive to make money...remember, you are out there to make a living, or work to live and feed your family...you don't want to make a truck your master only to find out that leases are bad 99% of the time and a gimick to try and keep drivers in the fold.

 

Forget it guys, MB ain't listening. Could be he's an agent for a fleece co trying to attract some newbie fish.

 

Or he just took the bait hook, line and sinker from a fleece co..

 

I know 99% of the truckers on this forum are against ANY lease.... and I can appreciate that.

I did go lease purchase with KLLM. (I am NOT here to debate the wisdom of this decision) and after reading the contract, asking questions from other lease operators, and again, READING the CONTRACTS) I am comfortable with this decision....

I cannot tell you one way or the other on should you do it or not... do your research into the company YOU work for. ALL leases will vary company to company.... let me say this again...

ALL LEASES WILL VARY COMPANY TO COMPANY....

here were a couple of the things that made me go lease though... I would find out where your company stands on these points...

1) I have the freedom to turn in my keys for ANY reason without ANY negative actions against my credit AND my DAC.
2) my company is not allowed to make a profit on the payments of the truck, (this is written into the contract with the financier) I am taking over payments for KLLM at THEIR interest rate (7.75)
3) remember Arrow Trucking and how they screwed their lease drivers??? Well, because of that debacle, KLLM had it written into the contract, that if they are late on even 1 payment for even 1 day... the lease driver has the freedom to pull the lease from KLLM and lease directly with the financier.... this would allow the lease driver to become a pure O/O independent from KLLM
4) at the end of the lease (because I am taking over the payments for KLLM) I can transfer the title into my name (buy the truck) for $1.00 (no balloon payment)


these are only a couple of MY reasons... again, find out where your company stands on them....

I do believe there are GOOD lease options out there... but they are few and far between and determined by what kind of company you work for....

hope this helps... DO YOUR HOMEWORK

 

just curious but what are your payments and what are you driving ??