I looking to get a lease purchase pls tell me one company thats you are are a really owner

I work for Buchanan Hauling & Rigging. I did the lease purchase with them and did real well. I think they have changed it up a little and started leasing a lot newer trucks now which will make fixed costs higher. But it is worth checking out and talking to them about it.

 

Where re they out of? And where do they run?

 

They are out of Ft Wayne In and run every where including Canada. We have a small office/terminal in Mountain Home Ar which is where I live and run out of. I did very well and paid my truck off with them plus I had to inframe my motor which Buchanan loaned me the money to do. They are a good company to work for. I also paid off my inframe which was 21000 in 48 wks. I am saying this for all of the people who say lease purchsses dont work. They do you just have to be smart and work your but off. And I am sure that some dont work but some do. And no I do not want you to use my truck number or name to get the bonus that Buchanan gives for getting another driver hired. I am just saying that some lease purchases do work and you are treated like a true owner operator picking and choseing your own loads. It is up to you if you suceed or not.

 

Cardinal Logistics, the loan is in your name, not the company name. You own the truck once the loan is paid.

 

Do these companies offer flatbed.....

 

Cardinal is mostly reefers, but does run some flatbed.

 

Decker Truck Line has some good looking flatbed trucks, but don't know how good the lease/purchase is.

 

GP is Georgia Pacific the others are abbreviations for other companies. Crown may be Crown Cork and Seal or Crown Forklift company when dispatchers and drivers say the same names over and over, they abbreviate them. Same for footfall fans. The Green Bay Packers become "The Pack", Jaguars become the JAGS, except for for fans in Nashville TN. Their team is the Titans.........

 

There is only 1 problem with the plan of buying on your own. If you are buying a truck for the first time, most finance companies want the company info and/or verification of a pending agreement to whom you will be pulling for, or if you are going totally independant, your business plan and/or some sort of work history that will show your ability to pay for the truck, and a very sizable down payment. But in order to get an agreement with a carrier, you 1st need a truck. Catch-22 at it's finest.

Many times instead of 'leasing' a truck (which is similar to renting a truck), find a carrier like Chinatown mentioned, where you are actually buying the truck from the company, not renting one like at Prime. I bought my 1st truck that way, at the end of the contract and my payments were complete, the truck was mine. Then I had a history as an O/O, and a little collateral/equity. Yes, it was an older, worn truck...but it had value when I went to trade it in and upgrade to a newer truck. And then, when financed thru an outside finance company, you are free to choose the company you pull for.

 

What's the difference with Cardinal and any other company, the balloon at the end? One of those $1 buy-outs?