If leasing is so bad, why do so many take the bait?

it's just a little confusing to me that a trucking company would lease a truck from a dealership, then in turn, a driver would "lease" the truck from the trucking company, then the driver would turn around and lease the truck (isn't that what O/Os do?) BACK to the trucking company for the purpose of hauling their freight???????? what's the point of all this?

I was going to work for a company who wanted me to work for them as an "independent contractor." even though I was going to be driving THEIR truck, hauling THEIR freight and working directly for THEM. NOT as an O/O. I hauled ONE load for them.

 

It's not just the trucking industry folks... these lease scams are no different than all the other "get rich" scemes that are advertised all over the place.

There's a sucker born every minute, and these companies know that.

 

I've been asking my husband the same thing. We've been L/P since he's been with this company(and l/p are basically all the same, no matter WHICH company). By the time he pays this rig off, he STILL won't "own" it. He will owe a "balloon" payment, which we won't have, because of maintenance,etc. and by then, it will be "older than 5 years", will need new motor, new, SOOO much...And, SOOO, he will be given the choice" of paying off this current truck, (which we NEVER can), OR leasing a NEW truck, at considerably higher payments, insurance, etc, etc, etc.


So, "in my own opinion", an L/P will NEVER truly "OWN" a truck....they will simply continually be paying to "own" a rig.

Unless you are fortunate enough to have the money to buy a tractor that has all you want, and can purchase your own authority, in my opinion, a driver is better off being a company driver....

 

No one was ambushed, they did not want to do their home work!!! They look the easy way out, and now must pay the price.

If your believe everything the adversary tells you in any deal with out doing your own research you get what you reap.

They are just as much at fault as the company across the table was and is.

Mark

 

You are the exception to the rule. I was previously in the investment business (~$50 million under administration in under four years) and it never ceased to amaze me how self-destructive people were regarding their financial well-being. The worst was when someone came into a lot of money ... common sense just went right out the window.

 

I disagree.

Some are unable to comprehend what is being said in lawyoreze.

They have no skilled advocate for their behalf. Further, they don't realize how stupid they really are.

Considering themselves semi-intelligent, when they hear, "$1200 a month for 30 years." they fully believe that is what it means.

Hearing, "floating interest is cheaper a $100 a month now but it could go up also" many, being semi intelligent, think I'm paying 1200 which is cheaper cause it would be 1300 otherwise, but it could go up, and that makes it 1400... not good but I can scrape by if it happens.

They aren't thinking... ooops... it went up... I owe 2300 a month now...

Disclosure in this country sucks...!!!

That's why you get all the fine print... and it only takes 20 minutes to sign a house... You aren't made to read anything, because you can't, and if you did you wouldn't know what it meant anyways...

sign by the pink stickers, initial by the yellow arrows.... ect..ect...

nice preprinted forms... its all standard.

not plain english standard... standard the other kind... I'm nailing you to the wall and you won't find out til its done, standard.

taking advantage of someone should be criminal, not buyer beware.

 

That's right. If they can not figure out what the dollar per hour and cents per mile are going to be then they have no business leasing any equipment.

 

Anybody that would sign a legal document that they did not understand is stupid!!!!!!

If you do not understand it spend the time and money and get legal help. Anybody that would sign a deal for 50K plus, but will not hire legal help to understand the paper work is doomed from day one.

Those people were just lazy and stupid, period. Nobody put a gun to their head and made them sign.

Mark

 

yup - signing for a house, car, whatever - 20 minutes or so.
I *really* cranked off my loan officer - it took me and my wife 6 HOURS to sign for the house loan.

We each took a page and re-wrote the legalese into plain english - then, when all was done, swapped stacks and started over.

THEN, we saw where we disagreed on what the forms said, and went through that section together.

We made them re-write a few of the forms to correspond 1) with other forms and 2) with what we were verbally promised.

As a result, my interest rate is only 5% (obtained at a time when interest rates in the area were running at about 6.5%)

The one thing they wouldn't budge on that I really wanted was a 'no sell' clause in the contract. Not for me, for them. I got screwed a bunch of years ago when one mortgage company sold the contract to another. Cost them in the end, though.

I admit, I'm kinda sloppy with amounts under $5000, but anything over that and I've learned to be double anal about.