Taking another swing at it

I completely agree with you

 

Remember that what works for one might not be the best for another. Leasing in and of itself is neither good nor bad. The main mistake people make when getting into a lease of any kind - and any lease can be either a success or a failure - is not first looking at the move as starting a small business. Too often, new drivers succumb to the company's marketing of BIG DOLLARS! before evaluating their own business plan and preparedness.

 

Well, you know, those elogs can just blow up the truck if any time is exceeded.

 

Go to a dealer that has used fleet trucks that are around 500000 miles and around $30,000 and see if you can get a truck payment around $700 a month. So you can hop around trucking companies with it .a lease purchase through a company you can't take the truck and go somewhere else with it.

 

So the company I'm at (Simplex) has a 2007 white KW T660 they are looking to lease. It has all brand new rubber, brakes, turbo, trans and 400k on rebuilt motor. 13 speed and 625 HP ISX Motor. They want $300 a week for a year and payment of $14k after. They will work with you if you don't have that $14k. 70% of loads etc etc etc. is this a good deal. What kind of questions should I ask etc. just curious. All responses will be greatly appreciated

 

Driver

Driver, I always tell people if you absolutely have to buy or lease a truck, don't get it from someone who controls your dispatch. When and if you run into problems you need to make sure you can take the truck with you. I don't trust companies selling trucks to drivers. How many other drivers have driven that truck before you? They're going to make things very attractive for you so that you will get that truck rolling ASAP and start making THEM money. I know some driver's going to get on here and tell you how successful they have been with a lease purchase but statistics say that they are an exception to the rule. Also, get an accountant BEFORE you buy a truck and discuss how to set yourself up as a business. i.e. Tax ID number, LLC vs S Corp, write offs. Discuss what you need to do in order to make it all work. And make sure it is an accountant that has successfully worked with other truck drivers. This will help you choose a truck with some business sense. Make sure you get that truck thoroughly inspected somewhere other than where you are buying it from too. Many drivers failed because they acted impulsively.

 

My anti lease comes from knowledge about what is going on in the industry. Trucking is a very expensive and competitive business and companies are finding it very lucrative to create attractive opportunities for drivers who are still wet behind the ears. Most fail because they were ill informed. I'm on here to help drivers use a little common sense and pay attention to the big picture. You can successfully own a truck but there are better ways to do it than falling for the popular lease purchase scheme.