Those that need/want to Fleece Purchase from a carrier

Who has it worst when failing? A lease operator who has put nothing up front. Or an O/O who has put everything up front?

 

I say the L/O. He has nothing to sell to try and recoup the loss. O/O has the equipment that can be sold and the ability to communicate with the banks to workout a payment plan for the remainder of the debt. L/O just leaves all the payments to the company behind as well as the truck.

 

It's funny you say that. $1.00 a mile loaded is about a cargo van rate give or take including surcharge and those guys make zilch complain about it too. I always found it humorous how many mega expedited carriers on the low end of the pay scale pay flat rates to a straight truck 10-20 cents a mile higher than mega carriers pay mileage TT contractors. A well managed straight truck on the open market ought to average $2 a mile, the good ones do. Now what should that tell you about big truck rates? Several things really but many with the glass half empty eager to be an owner at any cost will excuse away the unprofitable low rates megas pay fleecers and other contractors in TT and jump into the frying pan.

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After a cursory read through of that book, it looks like it would actually keep a lot of first timers out of trouble. That book does state it's for "first timers", not those who have "been there and done that". My guess is that most of the stuff in that book is the same kind of stuff you have said to newbies.

For one, it says to basically scrutinize the truck the same way (or better than) you would if you were paying cash, since responsibility for the truck's problems become yours in the same way. And it seems that it's almost always problems with the truck itself that makes the difference between success and failure.

 

There is alot of wrong in the L/P programs, basically only the idea manages to be good, in the majority of cases. It's the same with "rent to own houses", bank financeing would be better ( mostly. . .I have a reason for that.) But If I had the credit for bank financeing I wouldn't rent to own a house.

Business sense = good credit is horse puckies. My Mother had "bad" credit most of her life, reason, paid cash for just about everything. No credit is by some places "bad". But she could take a failing resturant and make it into money earning. Good business sense, bad credit, it's the main reason that she never opened a place of her own, couldn't get a loan. With two children, she never saved enough money to finance herself.

The $1,000 a week payment, everyone is talking about, is that just for the truck or truck plus? Reason I ask is friend of ours is buying a truck through the bank and by the time everything BUT fuel is paid for, it's about $1,000 a week.( probably a good thing he makes alot more).

Edit: dang tablet, hit send

He is buying a new Pete, after driveing his dads for, I don't know how long he said. But he knew he would make the money to make the payments. ALL of them.

 

Sorry for that, I should know better than to rise to the bait!
Cheers

Martin

 

Who's bickering? I had a point in that.

You see a scam, I see a business opportunity. Business is risk. You start a business, you risk your capital to obtain a profit. No difference here.

The trick is finding an opportunity that can be used in your favor- and that is in the details in the contract. First, you have to be able to understand the contract yourself... not just having an attorney tell you what's in there. Then, using the contract terms, your capital and business savvy to turn the odds in your favor.

So... you want to discuss scams? How about someone offering a 2012 Kenworth for about half the price everyone else is? There's a lemon in that one somewhere.

 

Shake and Bake.....

 

these veteran drivers always throwing titles around on folk. entitlement drivers, etc. stop that. stop blaming all ills on rookie drivers. I guess most of you were born fully skilled as drivers. I been in this business for 18 yrs its the same crap I have heard since the 90's. Drivers that have been company drivers all their career, failed o/o, those that lump every lease driver as a fleece driver. stop that nonsense. if you never leased a truck shut up. if you tried it and failed shut up. if you got your authority and failed shut up. if you complain bout how trucking is not like old days shut up and get out. no one needs that negative bull crap. drivers fail at lease deals, as company drivers, as o/o leased to a company, etc. its part of the business. if your not a business man your gonna fail at business.I f you cant learn you will fail. if you cant grow and make adjustments your gonna fail. EVERYONE DOESNT FAIL AT A LEASE DEAL. I guess posting that mess makes you drivers feel special. experience doesn't mean success especially if you make the same mistake for 30yrs.

 

Lol you sure told a lot people to shut up.. maybe you should........watch how you speak to people... no not everyone fails a lease purchase.... only 85% do... That is enough to call it a scam.. Yeah people need to stop blaming the next generation of drivers or it will never get any better. People are better off not getting involved in one.. I won't tell anyone not to get into one unless I have knowledge of the companies program.. Like Greatwide ..... I know it is a crock from the way a couple of people here were treated...but in the end it is that ladies/gentleman business..

On another note the truth is not "bull crap" Trucking is a lot worse than it was in 1990... I got into it the same time you did... My first check solo was 1200 buck... last week I made 850.. and ran more than I did back then... Yeah I am an owner operator and I pay myself a % of what the truck makes because that is how you stay in business... I bought my truck in 2002 (first truck) and have slowly over the last 11 years seen my checks go down about 5% a year..

One more thing...I believe people like you are part of the name calling problem always yelling about other people (I believe they call it an instigator) instead of adding something constructive to the conversation.. Telling people to shut up is about the only way to get me mad enough to fight.. I would suggest you watch how you talk to grown men and women.. I know I fail often at it but I always try to be respectful of others views and ideas.. and telling people to shut up isn't respectful or a way to be successful in this business..