Central Refrigerated Lease Question

I really don't know much about Central Refrigerated, but I have looked into several companies that offer lease purchases. The thing you need to look at it is the amount of escrows that the company has because there can be 3-4 escrows involved along with weekly payments, fuel surcharge, tolls, scales, lumpers, and etc. Most drivers will take home $200-600 a week while doing the lease purchase option. Now, you can make good money doing team or a person could remain a company solo driver. As far as training, it takes a person with patience and understanding to teach others the things that they need to know. It's a personal decision of what will work for that individual and what will not.

 

Do you have a family or other reason to take time off at home? Then solo leasing would be really hard unless you trainer to get the added income. Now if you don't have a 'home' and want to live in a truck and save your money ... Then you probably could... This is just my opinion though.

 

Only way to make a living with a Central lease is to become a trainer. This way you get paid for the miles you and the student drive. Had O/O lease with Central. Grossed 65k, neted 15k.

 

My advice on leasing is if you can afford a down payment for a truck and are really set on going O/O try and buy a truck. Furthermore, be very leery about these people that complain about not making money doing it. Yes, MOST L/O fail, and I'm going to beat a dead horse here, but it's b/c they have no clue or experience running a business. I'm going to paint with a broad brush and say that most don't run it like a business b/c they don't want to sacrifice home time, their "home" debts are way too high, and they think they're going to get rich with all this new found freedom.

They think since they have the ability to refuse loads, go home when they want, and run the truck at the speed they want, they'll come out on top. One has to look at the pro's and con's of leasing vs purchasing. While I'm of the school of thought that purchasing the truck is better than leasing the truck, many people will disagree.

Pro's of leasing-
Newer equipment, most parts will be covered by warranty, no to low down payment
con's of leasing
high monthly truck payment (more than if you just bought a truck and got an extended warranty), large balloon payments at the end if you want to purchase the truck, they have a set amount of miles the truck can run before you have to pay excess mileage fees,

those are just some things to consider.

 

VERY true words!! We lease, and if we had had the credit/down payment we would have gone the purchase route. Now we are half way through our lease, we pay $200+/week in 'over mileage' (we team, so run more miles than a solo... But if you train, it would be the same thing)... We are weighing our option on if we want to purchase this truck at the end of the lease, or purchase a different truck... And if a different one should it be new or used...

 

If you want to do good as a lease operator, you must get good fuel economy and don't over fuel for the load unlless you are in a area where there is cheap fuel. If you drive 55 you get the best fuel economy

 

Are you still driving for Central Refrigerated?

 

Wait a sec...They charge you for doing a lot of miles? instead of paying you for running harder they punish you for working more? Am I reading that right? if so, that is ludicrous.

 

Just like any lease, whether car or pick-up or truck. There is a set amount of 'allowed' miles and there is a charge if you go over them.