Okay, so I bought a used truck from Crete Carrier.

As for something going wrong I would guess you mean in the event of a health related event. I say that because you would have to be a lazy moron not to succeed.I'm waiting for an answer to this question. I'll post it once I get it.

Remember you can not lease a truck from Crete. Can only buy one using Crete's subsidiary bank, IF you qualify for the loan and can make the down payment.

 

golly gee, i throught all o/o or l/o got rich driving a truck.

 

There's your problem, you think too much..

 

It wouldn't have to be health related for being stuck at Crete, Schaeffer, or Hunt to be a problem. They could run out of freight-which I know you think isn't a problem, but that doesn't make it impossible, and someone financed through Crete's bank wouldn't have the option of going somewhere else. If you're financed through Crete's bank, you're still getting your financing from the people who provide your freight. It might not be a lease-purchase, but the basic problem is the same.

 

Eggzacry!

 

As a general rule I will agree with you. However, those who have read this thread has probably read mine as well, and between the two I think they can judge for themselves as to whether or not Crete is an exception to that rule.

 

It does seem like the chances of that happening there are pretty slim. I don't know how Crete does this, but it does seem like some of these big companies are firing people for some awful silly things these days. Like getting caught at a scale with a logbook mistake or trailer brake out of adjustment. When I left CRST Malone(yeah, I know, I know) in July, they had adopted a zero tolerance policy on getting shut down, for any reason. Crete probably hasn't done anything like that, because they have a much better safety rating, but there's nothing stopping them from doing something like that, in which case someone that picked up a trailer that had a tire with a flat spot or a drum with a hairline crack in it might find himself with a truck to pay for that he can't drive. I know this is pretty far-fetched, but Murphy has a way with this industry like no other.

 

I had heard while at the Malone terminal in Birmingham from a driver that they had done just that. People had leases and if they had any type of minor safety issue, then they were terminating their leases-and thus people were losing the truck, etc..
The driver I spoke to said that they had gotten rid of that safety man, but the damage had been done. While there, another driver had to come in because he had a DOT man that got him for not having but one strap on the first part of his load, so he had to go see them about that. He knew he should have strapped it, but didn't. The DOT man had come all the way from across from the other side of the expressway to get him, and was actually trying to get him for something else which he couldn't, but got him for the strap nonetheless (in Va.). This is one of the things that I was referring to about (if something happens), and there could be numerous other things--depending on the company. I was not trying to start an argument or anything. I am actually glad to hear that people can make a lease work for them--such as JD and Evertrucker. With all the negatives you hear about leases, I like to see success stories. The difference between those that succeed or fail can be learned from. I try to investigate both sides and weigh it fairly. I thank you guys for your thread and input.
Temptinfates

 

Neither JD nor ET are on leases. ET is a company driver, JD bought his truck (or is BUYING his truck).

 

Spoke with the person who handles equipment purchasing today. If for any reason the company or O/O decides to terminate the the lease the O/O has two options. 1) Turn the truck back and take a hit on their credit report, 2) find outside financing to payoff the remainder of the note. The note can be paid off at anytime with no penalty. (I did just that over 2 yrs ago and saw no reduction in productivity).

FYI, due to the rising cost of equpment Crete no longer offers new trucks to purchase, only used.