Do not do a lease purchase.....ever!!!
Discussion in 'Experienced Truckers' Advice' started by MOGLAR, Jun 8, 2014.
Page 3 of 11
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Lucar said: ↑yes, these lease agreements are bad,, but company driving is worse (in my opinion, of course)x#1 said: ↑Don't forget you can't lease "your" truck to another carrier, you can't fall behind 4 payments (real o/o time=4 months) wonder if you'd ever recover from missing 4 payments (1 month) in a fleeceClick to expand...Click to expand...
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Lucar said: ↑If you are falling behind your payments like that maybe you need to reevaluate how you are running your business.x#1 said: ↑Don't forget you can't lease "your" truck to another carrier, you can't fall behind 4 payments (real o/o time=4 months) wonder if you'd ever recover from missing 4 payments (1 month) in a fleeceClick to expand...Click to expand...
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As a matter of fact, lets see if i could summarize what to advise new lease operators to be careful of
firstly, DO NOT SIGN A LEASE on a governed truck below 70mph and elogs
DO NOT SIGN A LEASE if they wont let you read the contract at your leisure (not ten minutes before you get a truck)
DO NOT SIGN A LEASE if they wont work with you if you take a week off of work
now, to be fair, i had a $1300/lease and if i went home, i went in the hole, but my dispatcher would give me good loads the next week to get me out of the hole
so basically, i never was really in trouble on any of my lease companies with a mega
though i kknow guys that lost their homes, wives, and shirt off of their back. not coming out of the hole for months at a time
so there are a lot of factors to take into consideration, and its a cutthroat deal but to me, it beats being a company driver (with the right company of course) -
nightgunner said: ↑believe it or not, virtually all of the lease agreements allow you to go to another company (one of the hidden clauses they dont want you to know)Lucar said: ↑If you are falling behind your payments like that maybe you need to reevaluate how you are running your business.Click to expand...
its a legal thing where you have to lease from one company and it is SUPPOSED to be independent from the trucking company so they must have that clause in their contractsClick to expand... -
That is 100% correct. A little forward thinking s nd communication goes a long way.EZX1100 said: ↑As a matter of fact, lets see if i could summarize what to advise new lease operators to be careful ofh
firstly, DO NOT SIGN A LEASE on a governed truck below 70mph and elogs
DO NOT SIGN A LEASE if they wont let you read the contract at your leisure (not ten minutes before you get a truck)
DO NOT SIGN A LEASE if they wont work with you if you take a week off of work
now, to be fair, i had a $1300/lease and if i went home, i went in the hole, but my dispatcher would give me good loads the next week to get me out of the hole
so basically, i never was really in trouble on any of my lease companies with a mega
though i kknow guys that lost their homes, wives, and shirt off of their back. not coming out of the hole for months at a time
so there are a lot of factors to take into consideration, and its a cutthroat deal but to me, it beats being a company driver (with the right company of course)Click to expand... -
Lucar said: ↑
Originally Posted by x#1
Don't forget you can't lease "your" truck to another carrier, you can't fall behind 4 payments (real o/o time=4 months) wonder if you'd ever recover from missing 4 payments (1 month) in a fleece
If you are falling behind your payments like that maybe you need to reevaluate how you are running your business.
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you mean that the company still controls the truck when the driver is paying for it yet can not even run the speed limit? or is told where they have to fuel? or what routes they have to drive? I don't believe it.
the above yet below the line is all that i posted.i can see how my post was misconstrued but apparently someone is not reading the posts fully before replying.
so how did that which i posted turn into that which i did not? it is not an accurate quote nightgunner.it diminishes your validity regarding your rant which is my opinion only.Click to expand... -
EZX1100 said: ↑Yep, mine is like that. I have no desire to leave though. This is too darn easy.nightgunner said: ↑believe it or not, virtually all of the lease agreements allow you to go to another company (one of the hidden clauses they dont want you to know)
its a legal thing where you have to lease from one company and it is SUPPOSED to be independent from the trucking company so they must have that clause in their contractsClick to expand...Click to expand... -
x#1 said: ↑You stated that I as a Lease Operator could not fall behind 4 payments and recover like when I was an O/O. The fact is the if you fall behind 4 payments regardless of the financing your business model has failed.Lucar said: ↑
Originally Posted by x#1
Don't forget you can't lease "your" truck to another carrier, you can't fall behind 4 payments (real o/o time=4 months) wonder if you'd ever recover from missing 4 payments (1 month) in a fleece
If you are falling behind your payments like that maybe you need to reevaluate how you are running your business.
so how did that which i posted turn into that which i did not? it is not an accurate quote nightgunner.it diminishes your validity regarding your rant which is my opinion only.Click to expand...
Nothing personal, just the reality of the situation.Click to expand...
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