never buy a truck from Liberty Transportation!!!

Ya but you bought the truck from them right? and if so they took the truck payment, fuel, and insurance out of your pay and you still made $500? whats the problem?

 

what you thought you would make 15k a month LOL!

 

Great chances are that a trucking company leases the trucks from some other company (usually, it's a fictitious -in spirit, not in IRS eyes- "independent" branch of the very same corporation), leased trucks are subleased to the drivers (using the very fine prints and traps).

Due to Federal tax policies and loopholes - paying cash is for insecure suckers like me, corporate world prefers leasing of everything under the Sun and why not? Take out a loan, use Federal Tax giveaways and loopholes to minimize interest on that loan to zero (or less, meaning free money), invest your cash at hands (if any) at market rates elsewhere. The wealthy prefer taking out mortgages to paying cash (they have) to buy homes for the same reason - free money.

However, if corporations and wealthy individuals do it all the time, it doesn't mean that an average wage slaving individual can apply the same principles and rip the same Federal benefits as big sharks (think foreclosures).

If you are an average wage slave, there are a couple of "small" things to consider (Let's assume you have a perfect lease/mortgage arrangements). First, you are not an investment expert on a good day, sitting on your arse 14 hours (if lucky) day after day will not boost your good investment powers. High probability (much higher than that for a leisurely country club member) you will make peanuts on your investments or you will lose your hard, hard, very hard earned money. In any case, chances are against small players. Second, you cannot diversify your measly investments in a way that will cover your arse on a rainy day. Yes, you can diversify your $100,000 BUT you cannot subsist on dividends alone. Let's say you diversified your investments and managed to get whopping 1% as an effective balance of gains and loses, can you live on $1,000/year, will it cover you in a case of a job loss, disability, illness, etc., etc., etc.? The guys investing $10,000,000 can live off their 3% dividends (they will get better returns than you).

Financing, leasing or cash, it should not be a dilemma for a wage slave who's under constant threat of a job loss, injury, illness, .... that are not coverable by the modest investment gains (if any). It's cash ONLY. Sure, you may get lucky, but chances are against you, you'll stumble once and everything you worked for will go down the drain. Simple example, you've lost a job and market tanked this particular year & month shrinking your $100,000 "portfolio" to say $99,000 and you still owe $100,000 + fees & interest on your truck/home because you played big freeloader's game as seen on TV, what's next?

Yes, FEDs do lots of "quantitative easing" lately, "creating" and injecting tons of new money into the system and charging interest (naturally) on the money they just pulled from their arse, yes interest they charge is lower than inflation rate, so what? You are still a wage slave having little control and foresight over "cash" flowing into your pocket, that cash flow may stop every minute, your modest investment gains (if any) will not cover your job loss. Even if FEDs, banks, leasing companies etc. will charge 0% interest on the loans you still need a "cash flow" to pay the debt off.

 

paying cash is always king. the dumbest thing you could do is end up in a no money down fleece thinking youre beating the system when its the opposite.

the pay is guaranteed to end up being BELOW minimum wage,after expenses,escrow etc. only way you end up making good money is negotiating a contract with a customer YOURSELF, and owning the tractor FULLY, with a large amount of capital to provide a footing for the business to operate comfortably.

 

NEVER lease from trucking co's.

Go to a dealership and buy truck there.

I don't care how much a co will bs you on how much you will get at end of lease, because they will find anything & everything go charge you for to repair even if it doesn't need or they don't touch it & still chg you.

They don't want to give you that $$...they have to lie and brainwash you to get you into that lease truck, because If they told you the truth...you would run for the hills so to speak.

 

I'm not going to read 6 pages of dribble.....just wanna say this:

Who thinks they are going to Lease a truck, and not have to make the truck payment, or pay for fuel?!?!?!?!?!