BEST LEASE PURCHASE??? (to head me towards ownership)

A good friend of mine, best friend, 2nd to wife of course, did a lease purchase through Schneider Finance and after a few months he got on the choice program. I agree that the Choice program is a viable one. As long as you get a truck that's viable, not a new one. I don't think in a lease purchase deal a driver should get a new truck. My friend was doing a good job but got a lemon truck, just couldn't go long without a major problem and eventually it forced him to walk away. Now, SNI has not bugged him for money or anything so, their walk away is truly a walk away. If the truck doesn't bankrupt you and you can get enough freight off their load board, not sure you can go anywhere else to get loads, than a driver can do pretty good on the choice program. My friend financed a truck that was a year old, with 100,000 miles on it and was basically a lemon. He falls into the category of drivers that just have bad luck with trucking and he is out of it completely now.

 

1st I would like to say really research the companies that run thru your area on a regular basis and then talk to a lot of drivers who is with that particular company about everything dealing with deductions such as pay, insurances, maintanence per mile, fuel cut offs, and much more. 2nd seek the shortest terms without a balloon payment to financeat the end. As I can honestly say I got mine thru a lease purchase without a balloon payment straight buyout within 2yrs from the start it took a lot of sacraficing but I successfully did it and I wouldn't do it again because you are locked in a situation where at a point you will confined to taking loads not worthy of doing unless you're on mileage and even then it wouldn't be worth it, here is my suggestion, work on saving money paying out creditors on your report so your score can build up then save money for a down payment and unless your living or have plans to go to California search and find you a truck from 2006 -2007 which would be fairly priced. If you go forth and I wish you the best on your quest get a computer history printout on any and every truck you decide on purchasing. If you have any questions or anyone else who reads this feel free to contact me.

 

If u are interested in flatbed....e.w wylie has the best l/p program. ..the signed a document stating only 835 a week come oyt your check...not including fuel though

 

Holy crapolas batman only 835 a week ONLY and you will ONLY get 90cpm plus a reduced fsc So you will only see your wife and kids as you pass through where do i sign up NOT

 

That's what I'm talking about, there is no such thing as a good company lease...why would the company want to give you a good deal or want to help you out...they make money, lots of money off the poor dumb drivers who think they're getting ahead...the companies transfer all the risk of ownership to the driver, they make lots of money and they keep the tax advantages...

 

Says right on their website, "starting at $200 a week" in truck payments so, maybe the $835 you are referring to is the total for all expenses...

 

Dont know what kind of crazy expenses could add up to 635 a week on a truck note at 200 a week....economy size vasoline please

 

C'mon people, how many posts do you have to read to realize that a LP is a ripoff? If you can't finance a 15,000 dollar Freightliner, then you have no business trying to own your own company....I would love to own a Kenworth, but I don't want the maintenance headaches....so I drive someone else's truck....If I was single and could be a road warrior, then that would be a totally different story....but no LP for this guy.

 

Although I personally am against any L/P,(it seems to me like modern day share cropping), if anyone is bent on doing it, this is the best advice I've ever seen given on the subject. Great job driver.

 

So did the OP lease or no? I don't feel like reading all 18 pages of this thread.