Leasing truck through CRE to become o/o ?

Discussion in 'Ask An Owner Operator' started by krpv, Feb 10, 2013.

  1. krpv

    krpv Light Load Member

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    Haha yeah but in differing measures..
     
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  3. Oscar the KW

    Oscar the KW Going Tarpless

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    $500 contract buyout? If thats not enough to make you run. You seem to be fixed on leasing to england in one form or another, so just go ahead and do it, and prove everyone here wrong. I think you have your mind made up, what is it that you really want from us here? Our blessing?
     
  4. krpv

    krpv Light Load Member

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    I am leaning heavily towards that but not definite. I appreciate everyone responding. Just interested in the specifics of there lease, any pitfalls, things to watch out for.

    You dont think leasing a brand new truck (in my credit situation) and then paying 500 to buy out the contract is good?
    Dang that seems good to me if it's true; I could work for them 6 months and then take my truck and work somewhere else that pay more per mile.
     
  5. BigBadBill

    BigBadBill Bullishly Optimistic

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    You are missing a VERY important piece in that buyout. Fair market value. Your buyout will not be at fair market value.

    If you do a lease you have to go into it with the understanding that it is a rental. Nothing more with no sane path to ownership.
     
  6. Ubu

    Ubu Road Train Member

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    Here is what their site says about truck leases……..

    What type of leases are offered?
    •New truck (37 month) lease.
    •Six-month demo lease option.
    •Used truck lease, determined by the age. Your lease will end when your truck is three years old.

    A new truck is a 37 month lease, not a 6 month lease.

    Nowhere on their site could I find any details on the 6 month demo lease option, it is probably an opt-out option of some type.

    You are dreaming if you think you are going to have a new truck paid off in 6 months under any lease and you are not going to take the truck anywhere until it is paid off.
     
  7. krpv

    krpv Light Load Member

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  8. Gentlemanfarmer

    Gentlemanfarmer Medium Load Member

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    As with the above, stay away fro CRE or any lease purchase plan. If you are single, move out of the state, work as a company driver and save your money. I bought a truck through Arrow Truck Sales two years ago on their $4000 down, $4000 matching payment plan ( I actually put $8000 down) and they matched with $4000. No gimmicks and the truck is almost payed off.

    Depending on what you want to haul, find a city or town in a great freight lane. For example, I pull a flatbed and if I was going to move to a flat bed haven it would be Birmingham, AL or Houston, TX. If you want to pull a reefer try Atlanta, GA or Chicago, IL.
     
    krpv Thanks this.
  9. jason6541

    jason6541 Road Train Member

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    I've paid off 2 trucks thru hill bros lease purchase have the titles to both. Some companies won't screw you. Read the posts on here.
     
    krpv Thanks this.
  10. greginphx

    greginphx Bobtail Member

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  11. krpv

    krpv Light Load Member

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    lol that helps..
     
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