Lease Purchase Programs?

I do not know that. My guess would be that the success rate is much higher because their butt is on the line and they have much more control of their destiny. But that is just a guess on my part.

You bring up a good point that would be interesting to know.

I will say I cannot come up with one single reason to lease purchase. Buy the truck and do what you want with it not what someone else tells you to do with it.

 

For one, Captain, I'd get some more time behind the wheel before attempting to do a lease.

However, if you are dead set on doing it, you should try to talk to current lease operators of the companies you are looking at. They can give you the real facts about their programs.

I just started a lease with my company and doing real well. I get $1.04 per mile loaded or empty plus fuel surcharge. This essentially gets me $1.35 to $1.40 per dispatched mile. They take 6 cents per mile for maintenance funds and my only expense is for fuel. My fuel has been averaging .30 per mile from my $1.04. My truck payment is just over $1300 for every two weeks. After everything is said and done, I take home between $3000 to $4000 for two weeks.

I talked to one of our drivers and he told me he has run through 4 leases with our company. I'm sure he didn't buy the trucks at lease end. Some guys just enter a lease to make more money than a company driver. Our company drivers gross .38 to .40 per mile before taxes, and I have been doing .74 per mile. Some will say that's just a glorified company driver, so be it. I enjoy what I make and how I make it.

it would also help you if you are mechanically inclined. One of the big failures I see with others being owner/operators is that so many have no idea how to do even minor repairs and they are tied to a shop when something goes wrong.

 

That's not a fair comparison. You said you heard 85% of leasers fail. Not 85% of leasers you know.

 

Sheesh Captain. Try reading some of the thousands of replies regards flease deals. The pitfalls have been covered too many times to list.
You have been given the facts and opinions from EXPERIENCED owner operators. Take the advice or take your chances, we honestly dont care, as the attitude of most flease operators leaves a lot to be desired.
As far as folks who have failed giving honest advise? Really? I have some ocean front property in Az if your interested....
Fact of the matter is, it takes a big guy to admit that everyone else was right, and he was wrong. It also takes the same mentality to admit in public, that he was no where near ready to take that step into a flease deal. I have know a good dozen guys that did it, and blamed everything and everyone, but the person at fault. Themselves!
See what I mean? Not one of those guys admitted that they should have listened, and gone a different route. It's always the companies fault, the trucks fault, the IRS's fault, and so on.

Martin

 

Get at least one fact right, and please quote the post where I (supposedly) stated that 85% of fleasers fail?
Oh, I never posted that? Say it aint so.......
If you care for some accurate facts, read my previous post to Captain. If you want to carry on in dreamland though, I heard CRE is saving a spot just for you.

Martin

 

4/5 new businesses fail within 5 years. 85% isn't out of line. Leasing an asset, in the right situation can be a sound business decision. All those strip malls you see? Leased space. Most office space? Leased.

Go into it with your eyes wide open, and KNOW the pitfalls. Anticipate the issues that may arise. Know that if the wheels aren't going round and round, you aren't earning anything. And you still have payments to make, even if you have downtime for any reason.

 

Sorry, I miss quoted you. It was MJ1657 that said that.

But its still not an equal comparison.

 

Hmmmmmmmmm

 

Business experience is VERY important for any business, but especially this one