LEASE vs OWNER operator?

Agree! Except that $100 bill was probably a birthday gift from his grandma!

 

LMAO!!! puffy chest lease operator,that's funny...

 

Just do it if that's what you want to so.. Have any of y'all that are telling him not to lease ever did a lease purchase?? The difference between lease and o/o is o/o pays his payment to a bank lease driver pays the company.. Both are paid the same if working for the same company..

 

A bank has no control over who you work for and they have zero influence on your gross revenue. Most of us (the smarter ones) can see that on paper, it is very difficult for the driver to win. I know that if I jump off a cliff, I will likely die. I don't need to try it to prove myself right.

 

Lol most all companies pay the same no matter what if your leasing there truck or bring yours.. And the company that is letting you lease purchase wants you to succeed they don't want that truck back.. Your prob the type of driver that thinks they need to run 3000 miles to make a profit lol a lease drive can drive 2000 miles a make a good living and not running your truck to the ground..

 

I would break down the math for you, but I don't think you will understand it. You evidently don't even understand the basic concept of when you do fail and they take the truck back, they now have a truck WHICH YOU HAVE BEEN MAKING PAYMENTS ON, and it is in THEIR NAME. Perhaps you should try a lease purchase, if you believe you will make more money than your company driver job is paying you.

 

your lost.. We will pray for you!! Lol

 

In a lease program the payments are deducted each week as well as all the truck expenses such as fuel, plates, permits, bobtail insurance, qualcomm, road use tax, fuel tax, and possibly several "other" deductions including administrative costs, pre pass, repairs, advances, trailer rental etc.
Each company has a list of deductions and "fees" that they deduct from the lease operators settlement BEFORE the lease driver collects a penny.

An owner operator that purchased his truck elsewhere will usually have a lower truck payment due once per month. The other charges will be identical if they both use the same services.

As a lease operator you will start out in the HOLE every week. You will work for 3 or 4 days just to cover the fixed and variable expenses of running that truck. Heaven forbid if that truck breaks down. You will still have a truck payment due with no source of revenue unless you have a spare truk in your back pocket or have the money to rent 1 while your truck is down for repairs.

If a driver decided to go home for a few days he must make sure he has enough money saved up to cover his fixed weekly expenses or he falls even further behind. The company will take any money you have set aside for escrow or maintenance funds when your pay falls short of covering all your expenses.

This is what happens to drivers that are unprepared for the lease purchase scam. Ever hear of a "negative settlement?" This happens on a regular basis to drivers that had big dreams of having their own truck without having the knowledge necessary to run a business.

As a company driver you dont get negative settlements. The company pays for half the social security and medicare taxes as well as workers comp. Then there are the benefits such as medical, cental, vision, disability insurances, retirement plans, vacation, sick days and personal days off that lease operators dont get unless they were profitable enough to set aside money to take that unproductive time off.
It is no surprise that many lease operators/owner operators dont make enough to provide these coverages for themselves let alone their wife and kids.

Company drivers can earn 60, 70, 80 and even more per year (plus benefits) without any of the problems or hassles of being a "lease operator." The best part? When a company driver goes home he doesnt have to worry about that truck.

 

I got to ask.

Longroadtrucker; you have been on this site 2.5 years, 600+ posts, and your talking about CRE lease vs O/O?

 

Go price a big screel TV at a local retailer, doesn't matter which, just any one you can purchase one from be it with Cash or a credit card.

Now go find a similar TV at a Rent A Center or other Rent to own place. Find out exactly how many of those low low easy payments you will have to make before you own the TV, them compare the two.

That is the difference between a lease purchase and an owner op. You will he working very hard to pay the rent a center price. Some people have no other option if they want to own. Nothing wrong with doing it that way, just know what you are getting into so the sticker shock does not get you.