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

So if you could jump through all those hoops you would have started off and O/O...TIC

 

Jumping right from a company driver to all of the complexities of running a business and dealing with the paperwork involved in running an O/O truck is a huge jump. A lease is one way of taking it in a couple of steps.

 

Wow I have been wrong all this time .
You are just like a real o/o !!

It is the same thing I have to do when I want to change companies.
Well all except the part after your name !!!

As a o/o I just quit one company and go lease onto another company.

I still can't believe that all this time I thought as a L/O you had to ask the real owner of the truck if you could do what you wanted to with their truck !!!
Oh....never mind ...... after rereading the post again I guess I was right after all being a L/O really is nothing like being a O/O !!!

 

At my carrier the lease guys have to show proof that they can insure the vehicle, and make arrangements for the truck payment. There's a number who have moved over to Landstar that way. The usual deal is having enough in the bank to pay for liability insurance before they make the move.

 

That doesn’t sound so bad to me. You say it’s after all expenses are paid and this goes into your pocket?

 

It sounds as if this is really working out for you! How do you like Schneider in general? I assume they are a good company or you would have gone with someone else? It also sounds as if they work with you to succeed on a L/P. I guess they realized if you fail, they also aren't making any money.

 

How much percentage does a broker normally get?

 

I have been out of the industry for a few years which may be why I am a little confused. If a person finances a truck through a bank or a company, how does that change what they are? Lease to own or finance to purchase ends in the same way. Either the person is successful or they fail. Unless there is some chipping away in the money I don't know about, it seems to be the same to me. I remember years ago when I was looking at a L/P before going back on active duty, it was a $2000 month payment and I could walk away whenever I wanted with no punishment because they would just lease it to someone else. After a couple of years, the unit belonged to me outright. I would have gotten O/O pay. Their trailer and their finding the loads, but that is the same with most O/O, unless things have changed.

From what I remember, if someone really wanted to be a stickler, the only REAL O/O is a person who owns his tractor, owns his trailer, owns his rights and broker his own loads. Otherwise, you are beholden to someone in some way. Then again, like I said, I have been out of the business for a few years and just now looking to return.

 

It really hasn't changed at all. However, now some folks who presently own their metal look down on folks going through the process that doesn't involve the bank. Makes 'em feel good about themselves evidently.

Oh yeah... and we have a know-it-all company guy who has never driven a mile as a business owner telling us all what fools we are. It doesn't much matter... you end up with a truck, either leased to a carrier or not, with your own authority or not, and someway or another arranging for freight to get stuffed in the trailer.

 

Let me ask you lease guys a question, what are the terms of your lease? $3000 for 48 mo??