Lone Mountain Truck Leasing

Thank you for that fortycal. I did not realize that.

 

I'm sure when they get to the lot they'll post some pics on there sit like they did with the peterbilts. Have u tryed looking at their face book page. Some times they will have a little more info on it about incoming trucks.

 

Pound Puppy:
As you say yourself "it took you a long time to get in this financial spot"
Someone has to start somewhere.
As for the downpayment, no I can not afford the 20%, but I can afford 10% with money left for all other expenses and contingencies that will occur after the purchase and potential break down right from the start.
I am playing it smart and have no intention of putting all of my money into a downpayment.

You guys all make it sounds like someone has to have all this extra cash laying around to get started, I bet none of you started with enormous amount of cash, frankly if I had that kind of money laying around, it would mean I am already doing really well, why would I want to risk it in owning my own truck, when according to most of you it is a very risky business and does not pay all that well.

I like the lifestyle, I like to be on the road, I feel pride in being flatbed and I want to make better money than company pay.
I don't care if I don't get rich, I just want to do better, have my own truck, and set it up the way I want it and drive where and when I want.
I am taking my time finding the right truck w/ everything I want on it for the right price and hope everything will go smoothly after the purchase, so that one day I can get an even better truck...

I try to believe you when you say; you are not trying to put me down but it sure feels that way and some on here are much worse at treating a potential new owner like dirt.
Advice would help way more than put downs...
this is why I picked a fight with Skateboarder in the first place, he was just plain horrible to anyone not sharing his point of view and worse with people who had a bad experience, they too are entitled to share their opinions about good/bad companies, maybe someone can reply with their good experience but to go treating them like they are lyers or loosers and such...that is just wrong

Like I said: Someone has to start somewhere and I don't believe too many O/O started rich to begin with.
I am done putting down Lone Mountain, that was part of my research and I am very thankful for all the opinions on here about them, good or bad.

 

I think you are misunderstanding what some are telling you. It isn't that most are trying to keep you from buying a truck. This is a challenging business and not very forgiving. It is very capital intensive. You can still make an above average living in this business. But, you can also lose your shirt very quickly. The reason some of us encourage you or anyone thinking about buying a truck to save a good nest egg is for contingencies. Although I paid cash for my first truck, they all cost a lot of money to repair. You need to think about what you will do should your truck break and need a major repair if you don't have the money to make the repairs. You will not only have a big truck payment, but be out of money with no way to get back on the road. You are right about many not having a lot of money starting out. Some get lucky and others don't. If you do get into a truck with limited resources, you need to start putting as much money aside to build a good maintenance/emergency fund as quickly as possible.

Rates are up in some areas and down in others. You will need to be on top of your game to make it in this business. If you plan and work hard you can still do well. We don't know what will happen with the economy in the next couple of years, but careful planning can certainly help. Many economists are forecasting a major downturn in our economy. My suggestion would be to plan for the worst scenario you can think of and see if the numbers still come out and if you think you could survive. If your answer is yes, then go for it. But, be honest with yourself. There is no way that I or any other owner can tell you for certain whether you will be successful or not. Those who usually succeed learn from their mistakes and push through. You don't put money aside because things go well. You put money aside to get you through the bad times.

Many people succeed with little money, but life can be a lot easier when you do have a nest egg. Whatever you decide, I wish you well. Just take your time and don't get in a hurry.

 

G/Man is dead on! I started with little money in the bank and was very fortunate to have a good carrier behind me when the engine needed a rebuild as I was about $6k short! Nice thing was, I called Lone Mountain and showed them the repair bill and they moved a months payment to the end of the loan, try getting a bank to do that! Lone Mountain will work with you if you are proactive and communicate with them! If you say nothing and get months behind on your payment then you will lose the truck.

 

Some carriers will help if something major happens and the owner operator is short on the money to make the repairs. They are more likely to help an owner operator who has been with them for a while and has a good track record. I know a guy who blew an engine after leasing on with a carrier for a short time. He had the truck and trailer towed to a garage, but didn't have the money to make repairs. The garage had a used engine that they would have put in for about $10,000. Without the truck, he had no way to get it out of the garage. The garage kept the truck and trailer and the guy had to start over again. It was devastating to him. If he had $10,000 he could have kept his truck and trailer and still be in business. He only owed the garage less than $400 before the garage started charging him storage. He got shafted by the garage, but it would never have happened if the guy had money to get the truck repaired. This is not an isolated incident. It happens every day. This is why most of us recommend anyone thinking of buying a truck to have money set aside. If you check out a truck before buying you might get lucky. I had a truck that dropped a couple of valves with only a little over 100,000 miles on an inframe. It had just gotten out of warranty. I had to pay almost $7,000 our of my pocket to pay for repairs. As I said, things happen. Regardless of how new or old a truck, they all break. If it is something you really want to do, you will find a way to make it work. I would recommend that anyone wanting to buy a truck to take their time and do their homework and research. This is a business.

 

And what exactly is wrong with making money?
It seems many truckers believe it's not OK to make money of them. WTF is wrong with you guys. Every company is in business to make money. Lone Mountain seen an opportunity to fill a gaping hole in the truck leasing business and capitalized on it. GOOD FOR THEM! You say if someone defaults on their truck, LM just repos it and leases it again, I'm sure they do, but what you forgot to include is the cost of repo, cleaning and repairing the truck. I would bet you lunch they would rather not EVER have a repo to deal with.

 

Nothing wrong with making money.

It is just that some have more ethics then others in the way they make there money.

It was just a warning to those who think LM is only working for them.

You feel they have the best deal for you.............by all means use them,no skin off my nose.

 

So it seems your back pedaling your prior post. Not surprising seeing how off the wall it was .

 

No back pedaling or U-turn.

I really don't care what you think.