The Anti-Lease Purchase Program

monkeypuncher · Apr 11, 2012

BBB, could you PM those to me too? I want to know more.

US MARINE · Apr 11, 2012

monkeypuncher said: ↑

Not necessarily true, I for one have owned 3 trucks, but do not have enough for a down payment and enough to put aside for emergencies that might come up. When I sold my truck I didn't think I would miss it so much, so I paid cash for a condo and financed a new car. Now I have saved up about 5 grand I can use to either find a fair lease or go company. You do have a point, but good credit alone won't get you into a truck.
Click to expand...

Very true ... More to do with getting financed than just credit

blanco · Apr 11, 2012

Sounds like Lone Mountain Leasing program if you ask me.

monkeypuncher · Apr 11, 2012

blanco said: ↑

Sounds like Lone Mountain Leasing program if you ask me.
Click to expand...

If it is, what's wrong with that?

blanco · Apr 11, 2012

monkeypuncher said: ↑

If it is, what's wrong with that?
Click to expand...

Nothing wrong with it, just be sure to read the fine print.

cominghomesc · Apr 11, 2012

revelation1911 said: ↑

If I read what 3B posted the trucks would be leased to him. That would pretty much insure he would get his money or truck back 99% of the time.
Click to expand...

In theory the same thing as a lease purchase

And yes the only way to ever make it work is if they are leased on to you

BigBadBill · Apr 11, 2012

blanco said: ↑

Sounds like Lone Mountain Leasing program if you ask me.
Click to expand...

How so other than we have the trucks picked out.

Do you see them do something good that we want to emulate and what do they do that is bad that we want to avoid.

cominghomesc · Apr 11, 2012

BigBadBill said: ↑

First off this is not a lease. Straight finance.

Because, like me when I started this business, they CAN'T buy the exact same truck for less money. They can't buy any truck now because they don't have enough down.

Yes, the people doing the financing are making money on this. It is business and that is what business people do. We make money on the driver having the truck leased to us.

And if the driver does what they are supposed to do they will make far more money than as a company driver. And if you look at driving and saving the money to pay cash there is an opportunity cost. The interest paid, potential extra you may pay for one of our trucks and other extra expenses is going to be far less than the extra income a driver could make leased to us.

A smart driver, after building up reserves, would pay extra towards the truck and own it. And not to mention having the ability to run yourself.

Yes this is a business and all involved expect to make money. But you can make money and be ethical at the same time. This in part is a little bit of me wanting to pay it forward. I was given the same opportunity and now have a growing company.
Click to expand...

Why are you looking to take the risk that all other lending istitutions will not? I am not saying that it will not work but you need to be very careful.

BigBadBill · Apr 11, 2012

cominghomesc said: ↑

revelation1911 said: ↑

If I read what 3B posted the trucks would be leased to him. That would pretty much insure he would get his money or truck back 99% of the time.

In theory the same thing as a lease purchase

And yes the only way to ever make it work is if they are leased on to you
Click to expand...

In theory yes but in practice not even close. An LP does not put the truck in the drivers name. Plenty of other differences. And most LPs are not worried about trucks coming back because they have a big recruiting depart working to keep trucks filled. We don't want the truck back.

And the whole game of trying to starve a guy out when he is near completion (and for the record I don't agree that most of these companies do that) we have a financing agreement. So if a guy is 3 years into a 4 year deal, he will have equity in the truck and worst case is he could sell it and pay off the note and keep the profit. Assuming he couldn't find his own financing.
Click to expand...

MNdriver · Apr 11, 2012

would you include trailers? or would you have trailers to be used?

Log in or Sign up

Forums

The Anti-Lease Purchase Program

monkeypuncher Medium Load Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

US MARINE Heavy Load Member

blanco Road Train Member

monkeypuncher Medium Load Member

blanco Road Train Member

cominghomesc Light Load Member

BigBadBill Bullishly Optimistic

cominghomesc Light Load Member

BigBadBill Bullishly Optimistic

MNdriver Road Train Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

Log in or Sign up

Useful Searches

The Anti-Lease Purchase Program

monkeypuncher Medium Load Member

Wait, employers can't reach you!

US MARINE Heavy Load Member

blanco Road Train Member

monkeypuncher Medium Load Member

blanco Road Train Member

cominghomesc Light Load Member

BigBadBill Bullishly Optimistic

cominghomesc Light Load Member

BigBadBill Bullishly Optimistic

MNdriver Road Train Member

Wait, employers can't reach you!