Lease Purchase Programs?

good points, and well said.
Coffees are on me should our paths ever cross.
Fair enough?

Martin

 

CaptianX3, just to let you know, the 'naay-sayer' bunch you are arguing with blast the same pukied-up messages in other threads on the same subject, yet, not one of them has ACTUALLY, AND SUCESSFULLY L/p'd a truck to the point of a clear title, nor can actually give solid advice on how to do one sucessfully, or they would have had some positive advice. So, they say they are sucessful in what they do, thats great for them if it is true, and yes, the L/p way of life is yields a lower profit margin than other methods of self-supportive startup, but that is the trade-off for starting out in such an endevor with little or no capital.

You are obviously looking for advice on 'Doing it Right', and NOT advice towards telling you not to do it. Its clear that you have made up your mind on the subject, so lets set asside the 'naay-sayer's' discouragements, and move foward on this, where their input, hopefully, should focus on statements like, 'Yea, i wouldn't do it, but if faced with it, i would do it like this..., or be mindful of that...' kinds of comments. This would yield a more positive and helpful result I think.

that being said...

Asside from the fact that these same few, who are experts in butchering apart what others have to say, and the fact that these type of naay-sayers tried to butcher the last thread I tried to help someone in, where the site admin finally stopped them, I will continue...


You asked for advice from ppl who ARE sucessful L/p o/o's. Well, I am. Very sucessful in fact, and not because I had any help or sponsorship. If you want some solid info, please take the time to read the other thread I posted in, looking past the 'naay-sayers', yet once more. You will find a reference or 2 in there to some really solid info on how to do what you are itrying to accomplish. Here is the thread...

http://www.thetruckersreport.com/tr...want-fleece-purchase-carrier.html#post3395968

I think maybe these references will help you greatly,...Rawze

 

You are correct sir!!
If the L/P does not offer any power to the driver (at the very least for self-preservation, at most to make a profit) then any contract like that is meaningless. Rollin coal was right, a good business is built up over YEARS, using a concept known as PATIENCE. I would love to own my own truck, but it doesn't make sense to have a shiny truck when you are losing your house! The paycheck is the bottom line, either as a company, owner op or L/P. Personally for me, if I bust my balls in this business for brand X trucking company, I want some options, I deserve some options as en experienced driver on any L/P program. I would advise anybody to walk away from any bad deal, don't hesitate and don't feel bad about walking....and make sure you have money for a bus ticket back home after you tell them "no", it will most likely save you even more money and hassle in the future...they may not like you, but they'll respect you...

 

Good Lord, someone actually saw some advise and honesty in one of my posts? Say it aint so....
Glad you realize what is what.
I am leased to a company, hauling oversize etc. I still manage to negotiate rates if they aren't up to scratch, or if they want something picked up quick etc.
If anyone is going to do it, get on a % contract, hauling GOOD paying freight. Obviously I am biased to what I haul, been doing it too long, but whatever pays good will pay you good (if on a % contract).

Martin

 

i wanna know where i can get a truck that runs on .30 cents of fuel per mile. cuz mine runs at .60 cents permile.

none of us can offer any advice on the lease deal. becuase we're not that dumb to do it.

why would should WE be force dispatched at ONE dollar per mile. and work as slaves. renting a truck we'll never own.

out fixed expenses are much much lower then a lease deal. we own our trucks. we go where we want. take whatever time off we want. and we haul for TWO dollars or better. per mile.

we're also not putting money into a escrow account that never comes back to us.

and when we take time off. we're not killed playing catchup with those weekly payments. and we only have to work HALF as hard to make TWICE as much as a lease deal.

a

 

Martin there is something bothering me.
And no,this isn't a attack on you.
But if your way is so good why do you have "Formerly slow and paid for, currently fast and in debt...." at the bottom.
I know you bought a Star but you have been in bussiness for some time and yet you borrowed for that new truck.
Just a simple question.

 

I thought I would go ahead and embarrass myself thouroughly and completely here once in for all, in the presence of such suprerior intellects, who must be extremely wealthy compared to me. After all, after my $900/mo mortgage, 3 cars, 2 internet bills, 3 phone bills, wife, 2 grown kids living at home, 3 dogs, and an expensive computer habbit, I did only manage to save a measly 52k into a money market account, Plus write a check for 54k paying off my truck a year early, running 7 weeks out, and 1 week home for 2 years. I guiess my L/p was just chicken-feed compared to you guys, so with no further adue, I will actually put my mouth where the money is at, so you rich, superior 'True Owner-ops' can poke fun at my actulal numbers once and for all. Here is my 2012 settlement summary, when I was still making truck payments, showing what I actually got paid every week for the entire year. It is unaltered, and is acurate down to the penny. In fact, when I got my 1099, the 1099 matched it to the red cent. Did I have other expenses ?,...Of coarse, but it was only things likie oil, oil changes, some tools, a couple inexpensive sensors, a windshield, and other minor maintenence items. The rest, I kept...

http://www.scribd.com/doc/153727783/pay-2012

 

Purchase a truck outright for cash, claim depreciation.
Do a Trac Lease, like I do on all my trucks, claim all lease payments back, then the depreciation on the buyout.
I got hit HARD last year on taxes, thus why the new truck is in the driveway.
My payment is $1500 a month, so hardly a $2k + payment to a trucking company huh?
I never said my way is the best way. I did however say that being a flease operator is not the way to go in 99% of cases.
We have 2 Range Rovers bought for cash, our wheeling rig, 15yr mortgage, and thats it. My wife doesnt have to work, so can stay at home with our 3 boys if need be, and all our other stuff is paid for outright. Not too bad I dont think, especially seeing as I moved here from a different country in 1999.....
And before anyone who knows nothing of tax laws chimes in, my lease arrangement is NOTHING like a carriers flease agreement. I negotiate the rate, terms, length, buyout and so on, myself. My leases have also been with the likes of Well Fargo, Daimler, and so on. Not CRE, Swift, etc. I choose where the truck goes, as they never even ask where it is leased to, or if it's leased to anywhere at all. There is a reason why big companies (not trucking companies per say) lease equipment.

Martin