Do not do a lease purchase.....ever!!!

speaking from experience?

 

While I agree 100% with the original poster for those of you who have lived a good and noble life, like me, there maybe times when lease purchase is an option.

There are companies like Rent-A-Center who happily rent you televisions that will only cost you 3 times what you could have gotten them for cash. There are pawn shops that will buy your $30,000 wife's diamond wedding ring for $10,000. There are loan shops where you can take your cars title into and borrow money at a rate of 360% annually. If you are a customer of these places then leasing just might be an option for you.

There are people who have been successful with leases. The bad thing is those people would have been much more successful if they had dealt with non predatory lenders.

Because I hold all of the Securities licenses that the SEC puts out I cannot by law tell you specific advice on which companies have the most fair leases. I will tell you to take any lease you are offered to either OOIDA or you own business lawyer. Better yet take them to both before signing anything. A big red flag is when a company or anyone does not want you to seek advice before signing.

 

Understand this..... the truck is not theirs! Same as those with no experience and are attempting to buy one , its not theirs until its paid for and plenty fail at that as well.

 

Yeah I see some of the leasing terms guys agree to and it blows my mind considering you can just save up and get a very solid truck from truckpaper for 50k give or take; and really much cheaper if you give yourself some time to find a good deal...

 

i started off leasing with a mega

it was paperless logs and a lot of fun, it was work and i had to keep my focus

i dont think it would be the same now, with elogs and micromanaging and csa and stuff now

but i dont see how a company driver is going to save anything to buy a truck, at least leasing gives more ability to make more money (and lose it too)

leasing also gives you the proper mindset to own a truck over being a company driver

and dont think company drivers are not paying for the truck, they are, by being paid only 40cpm, you are paying for the truck, the fuel, the repairs, its just that you never have the opportunity to make more than what they have allotted you

 

I don't say don't.

I just think you should thoroughly read the contract before you sign(don't let the company rush you). If you don't like it try and negotiate and if they don't walk away. They can be ok if you find the right one. I've taken advantage of the loopholes in the contracts normally where the company says one thing but the contract gives a way out.

 

How dare you tell me that? Even though everyone else fails at England, CRST, Knight, Dart, Landstar, JCT, etc. I know i can be a huge success!!! Just like that guy in the magazine i found at the TA. I' just got out of trainining and passed my CDL last week, so I pretty know all there is to know about trucking...

 

Two Words: ZERO DOWN. Just like the guy with huge teeth on the back of all those DART trailers.

 

I don't know but some guys think it's a great deal to pay $4000 mth for a shiny new truck. I guess it takes all, especially if you are a sucker. It's always going to be difficult to convince some guys they're making a huge mistake. All these big companies are doing is filling a need and in turn capitalizing on their gullible ways. Just another niche in a free market. There's a demand so let's fill it. Bingo!! Hello !