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*WARNING* for drivers trying to lease a truck

Discussion in 'Report A BAD Trucking Company Here' started by Veteran driver, Jan 21, 2012.

Page 6 of 7
  1. Jan 25, 2012 #51
    Kansas

    Kansas Road Train Member

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    aircap, Ks.
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    Count me in as one of those laughing at this post.
     
    Last edited: Jan 25, 2012
    Kansas, Jan 25, 2012
    Kansas, Jan 25, 2012
    #51
    Hammerup Thanks this.
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  3. Jan 25, 2012 #52
    rollin coal

    rollin coal Road Train Member

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    Ok so you understand trucking is very risky and difficult to make a profit in. Competition is fierce and margins are slim. Lease-purchase plans appeal mostly to drivers who have very poor credit and could never go to a bank and finance a truck on their own. Companies that offer these credit risks the opportunity to get in the business must have it set up to their favor. These folks have to prove themselves. With determination and perserverance very few do. They never go home cause they'll be broke 4 days of running for every 2 they take off. It is a hard way to do it.

    Much easier is to kick back in a company driver seat and patiently save up to purchase outright. Not many people have that kind of patience. What I am saying here is I think a law outlawing lease purchase is a bad thing. These companies offer folks something that otherwise they never would get a chance. The rare ones who understand it's a business instead of a fast truck sometimes get lucky and sqeak through the process. And I'm not a cheerleader for LP I think it is a really bad idea for 98% of the drivers out there who think they can pull it off... For the ones who do, it is a stepping stone to better things.
     
    rollin coal, Jan 25, 2012
    rollin coal, Jan 25, 2012
    #52
    Hammerup, bigdogpile, Preacher Man and 1 other person Thank this.
  4. Jan 26, 2012 #53
    Veteran driver

    Veteran driver Medium Load Member

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    De Moines. IA
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    Of course you laugh at that post Kansas. That's what idiots do.
     
    Veteran driver, Jan 26, 2012
    Veteran driver, Jan 26, 2012
    #53
    Hammerup Thanks this.
  5. Jan 26, 2012 #54
    Preacher Man

    Preacher Man Road Train Member

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    rollin coal, you are right. I am in a lease/purchase, for me it's not quite as bad as you portray, but it isn't easy either. It's not just in trucking, most start-up businesses fail. Whatever business you go into, you need to understand your chosen industry, and you have to know your numbers. Far too many drivers can't budget, can't discipline themselves to handle the money and can't prepare for a rainy day. To succeed you need both an understanding of trucking and a head for business.
     
    Preacher Man, Jan 26, 2012
    Preacher Man, Jan 26, 2012
    #54
  7. Jan 26, 2012 #55
    Veteran driver

    Veteran driver Medium Load Member

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    De Moines. IA
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    The notion that most start up businesses fail is absurd! This is classic lease purchase recruiter vernacular. Designed at making you comfortable at the revelation that your not going to be making much money. In order for any business to flourish in the first year or any year you need a product that is on demand. You need start up Capitol. And a willingness to work tirelessly to get your business up and running. Now these are the basic fundamental components needed in any business. In the Trucking business your life blood is your rate. If your hauling freight at 1.22 cpm your already fighting a losing battle. Losing battle but not impossible battle. As I said in my previous post. When I arrived and discovered it wasn't a Trucking company I decided to try them out for 30 days. I did and decided it wasn't for me. So I moved on. All Trucking companies are basically the same. Some give you nice trucks but no miles, some give you lousy trucks, good miles, but no benefits, others give you nice trucks plenty of miles everyone is friendly, but they pay you. 30 cpm and run you all north east. So its just a matter of what your looking for in a Trucking company. I don't care how much you investigate any company, your never going to find out how it really is there until your in their truck working for em. It's pretty much that way in life too. There is no way to take preemptive measures to ensure you will never make any mistakes. That's just unrealistic. So to all the smart a.. truckers out there who just love to disagree just for the sake of disagreeing and chock full of jokes walking around like Alan Alda in mash cracking jokes, your just letting the world know how much of an idiot you are. Smart aleck truckers who love poking fun at the plight of others. Misery loves company.
     
    Veteran driver, Jan 26, 2012
    Veteran driver, Jan 26, 2012
    #55
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  8. Jan 26, 2012 #56
    Veteran driver

    Veteran driver Medium Load Member

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    Please continue to comment. Making my thread hot with new comments.
     
    Veteran driver, Jan 26, 2012
    Veteran driver, Jan 26, 2012
    #56
  9. Jan 27, 2012 #57
    bigdogpile

    bigdogpile Road Train Member

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    fontana ca
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    Far too many drivers cant budget? Can't discipilne themselves? And so it's the drivers fault when they fail? This is retoric BS.... When you are told when to go, where to go, how much time to spend doing it,you are at the the complete control and mercy of the company and you will ALWAYS fail with this kind of "business" model:biggrin_2551: !!!!! IMHO theres is only one way to be an O/O.. Buy your own truck outright, have your own authority, 6 months of cash expenses.... and maybe then you have a business
     
    bigdogpile, Jan 27, 2012
    bigdogpile, Jan 27, 2012
    #57
  10. Jan 28, 2012 #58
    Preacher Man

    Preacher Man Road Train Member

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    Mason City, IL
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    OTR trucking is nothing more than a package delivery business on steroids. It is a business just like starting a restaurant, ebay business, repair shop, lawn care or any other business. The sad fact is that most people in any industry who start a new business will fail. In trucking, just as in any other industry there are multiple business plans that will work. The issue is whether a person understands what they are doing, most companies don't care if a driver knows what he is doing or not, they are more than willing to lease a truck to a driver. I have heard of drivers who were so strapped for cash they couldn't even buy a gallon of oil. This person's business was already dead, it just hadn't reached the driver's head yet.

    The one thing I understand is business, not just trucking. It is even possible to start a business on credit cards. Even though it has been done it doesn't mean you, the reader should do it. The point is that there is more than one way to be successful if you know what you are doing. Getting your own authority is like opening a mom & pop restaurant. It can work, but a McDonald's franchise has a much better chance of succeeding. You can get your own authority and your own customers, but leasing to a company makes things a lot easier. Owning a trucking business really isn't that much different than other businesses.

    If you don't believe me, then do your own research. Start with the Small Business Administration, then continue your research and education.
     
    Preacher Man, Jan 28, 2012
    Preacher Man, Jan 28, 2012
    #58
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  11. Jan 31, 2012 #59
    Veteran driver

    Veteran driver Medium Load Member

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    De Moines. IA
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    Understanding the dynamics of your chosen industry is one way to help improve your chances of surviving in a business venture. Most lease deals are designed for the company doing the leasing to make money. As I said before " the casinos are the only winners, the players don't stand a chance" this concept also applies to any lease purchase contract. Unethical business practices are totally legal. If trucking entities are willing to exploit ignorant and gullible unsuspecting truckers, then there will be no shortage of them. There's a sucker born every minute, and until legislation can be passed to stop unscrupulous business practices, it will continue. I am glad that there are some people out there who succeeded in their lease. These people are the exception and not the rule. For anyone wanting more information on becoming an owner operator visit WWW.OOIDA.COM to be aware is to be alive. And knowing is half the battle.
     
    Veteran driver, Jan 31, 2012
    Veteran driver, Jan 31, 2012
    #59
    Hammerup Thanks this.
  12. Jan 31, 2012 #60
    Veteran driver

    Veteran driver Medium Load Member

    678
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    Aug 24, 2010
    De Moines. IA
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    Lots of things can contribute to a business failing. As preacherman so eloquently put it. It important to know what it is your getting yourself into. Never enter any lease where you are competing with company drivers for freight. Always insist the option of determining which loads you haul. Its your business. Get the facts. Ask questions. Truckers love to answer questions. So don't be afraid to ask. Everyone's experience is different. What worked for one Guy may not work for you. Be prepared to live in that truck. For months at a time. Save your money. Watch your spending. Know how much fuel you need. Never fuel in the expensive regions.. Ma, NY,CT, GA, RI IL and so on. Know where to fuel. Drive slow. No need to hammer down every where you go. When going up to the north east. Take 95 n to exit 19 and run 50- 301 up that's the cheap way. Don't take the GW bridge into NY. It's 65.00 now. Most freight pays better going north east. So if your going to run that region learn how to do it. For example stay of the parkways. Try running at night when its less stressful. These are just some tips to help you get going. I try to offer some help. To be a part of the solution not the problem. Good luck out there and stay safe
     
    Veteran driver, Jan 31, 2012
    Veteran driver, Jan 31, 2012
    #60
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