Thinkin about gettin in lease purchase. Any suggestions?

Ran into a Lease driver with Werner the other day in Tampa, Fl and told me he has been out on the road 9 weeks straight because he had a problem with his rig that cost him $3,500 to fix. Can't go home because he needs to make enough to pay for the repair and have enough money to just survive. Food, bills etc. He can't get enough miles from them to make enough money to pay off repair. His rig has 2 more years to pay and has 1,000,000 miles. ............. Believe me unless you buy your own truck the regular way I.E. a standard finance loan forget it do not do it.

 

Nothing ever comes out good leasing from a starter company.I say get exp then go to a company that pays the co drivers well and see what they pay a mile for lease operators versus the starter companies or ones with a high turn over rate should be a red flag and think long and hard if you're doing the right thing by leasing.Many drivers and especially the new ones has to know what leasing is like just from the forum but still go ahead to do it anyway.Believe me companies are not going to cater to you if they don't to others.Then when you quit a bad company,learn from it.I get many calls but yet here I am still at home.Every company that calls me I ask many questions look at their website and also look up their DOT number.I could go work for a company in 2 days but turned it down for many reasons.I just got off the phone with a recruiter,we talked for an hr and so far I like what I heard.

 

With a lease your just a glorified company driver. Lots of drivers enter into a lease thinking all the others before them didn't know how to be successful, that somehow they will make it work. Some do, many don't. I posted about the same topic. Lots of valuable input. I would stay away from lease purchase. You might make it work if you run team. Lots of folks are doing that now.

 

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Have your attorney look over the contract with you before you sign.

If the company don't allow it - walk away.

 

Exactly my point.......

 

Holy Cow!!!!!!
Look at all the naysayers.
First thing you have to realize is a lease is the most expensive way to operate a truck (the infamous Prime inc. even admits this on their website). There are advantages to it though.

There are a few things I tell almost everyone that asks about leasing
1. If this is your first lease you will likely fail
2. To avoid #1 you need information & an intense desire for success
3. Do not lease a truck from a carrier you have never pulled for(run company for a month or two)
4. Do not lease truck from a carrier that does not have a walk-away caveat in thier lease
5. Do not focus on the "price" of the lease, instead focus on your net profit
6. If you are planning on being in this industry over 3 years you should only lease long enough to decide if you love the "O/O" life and save some $$, if you do love it, then as soon as you have the cash available get rid of the lease & get your own equipment..

 

Advice for getting into a lease purchase deal...

Just go ahead and donate all of your time, and all of your money to a good charity, that way you at least feel good about yourself when you're broke.

 

You'll get a tax receipt for your money and you'll get a "Thank You" for your time also.

Great suggestion Ex-ConTrucker.

 

Yes and the MANAGEMENT of the charity who syphon off 90% of your donations for operating exspense , salary , misc will not know your name nor say THANK's.