Lease Purchase programs.... the scam I'm noticing about most all of them

Do they offer the rainbow colored pill?

 

Informative thread... And lots of bickering.......

 

Nothing to bicker about lol. Kevin Rutherford said it best. Lease purchase drivers are not owner operators.....period. The truck is not yours. You have no say. You can't pull your truck and take it to another company when u want to. Why.......cause it's not yours lol.

Can you handle the truth.

 

Quit spewing information that isn't true. Not every company will allow you to take the truck to another carrier, but some will.
Example of this is Success Leasing through Prime.
Call them yourself if you don't believe me.
Prime lease drivers can take the truck to another carrier if it's not working for you at Prime.

 

If you listen to Kevin R you are bound to fail....he at one time probably was an ok source for info now hes just a pay for play product pitchman selling his stuff. I lease with Schneider I will own the truck, my name is on the title, I am responsible for everything on it and its cost, I make after all expenses arounf 85 to 90k a year and I dont work that hard. Oh and its brand new.

Be Safe Out There

Captain Dave

 

I do listen to many trucking resource. KR basically sets the record straight about what lease purchases are. He knows the numbers and the racket some of the companies are trying to pull. In this instance he is not pitching anything. Most people see a shiny truck and sign up thinking they are now owner operators. The funny thing is these people are probably good drivers but dont know crap about the business lol. The majority of them dont even take the lease to someone to have it reviewed lol. They have nothing vested in the truck or business....its not theirs. This is one reason congress is looking into what a contractor and an employee is. It boils down to how much control you have over your business (where you can take your truck etc) FedEx recently was sued over this. Well enough of that.

Far as Schnieder is concerned there is it a bit of a different animal when it comes to lease purchasing. On the percentage lease its all on you to run your business. Its all on you. If you have your name on the title with them as the Lein holder this is an exception. Out of them all the Schnieder percentage lease program is the only one that is workable......this is providing the driver knows how the trucking business works. I have had friends that went through a bad divorce and had their credit destroyed do the percentage lease. They are doing very well becuase they know the business. The goal is to make more money than the company drivers. If you get the truck at the end thats great. But that should not be the sole purpose.

Most lease purchases out here are basically a modern version of "share cropping. " lol that is the best way I can put it. When I am talking about fleece purchasing I think you know what companies I am talking about.....not hard to figure out what companies it is lol. They love the turn over.....in the front door and out the back.

 

Perfectly stated by you both.


Be Safe Out There

Captain Dave

 

So what exactly does "knowing the business" entail as it concerns being successful in a lease purchase, such as the examples given with schneider? Is there a thread on here where there's a step by step layout of what specifically to do and not do?