Jones Motor? Mercer?

Look at it from their point. YOU HAVE NO RIGHTS TO THE TRUCK!! It is not yours. Understand that. My feelings on fleece purchases are known on this website. They are a medicine show scam. I am not going to get into it....but all I can tell you is the truck is not yours and you are buying nothing. If you have no rights to the equipment you are not an owner operator PERIOD! All the fancy fleece purchase documents they make you scribble on to make the driver feel good dont mean anything. THE TRUCK IS NOT YOURS AND YOU HAVE NO RIGHT TO IT! PERIOD!!!

There is a huge difference between leasing a trailer and a tractor. Major difference.

Unless you have a title with/or without a lien holder on it you have no truck.

That is the hard core truth. Sorry for being so blunt about it.

 

Whoa whoa whoa big fella....take it easy. Lol....i AGREE with you. I always thought that entire leasing on guys that didnt own the truck was a bad idea. Hell, i just didnt know they finally came to their senses and stopped all that third party leasing on non sense.

Having a truck financed through a local bank or reputable sorce is one thing. Nothing wrong with that, but a LEASE PURCHASE is not a smart move. Especially when the freight sucks.

Trust me, i saw the koolaid drinkers at mercer....it wasnt a pretty sight. Dont get me wrong, there were and still are some great hands there that are the real deal, but there few and far between.

 

I want to add a little insight on why many carriers (including Mercer) do not want to mess with "fleece purchase" drivers.

First owner operators have real skin in the game. They have a lot invested in their business. They just cant turn around and quit because they got pissed or dont want to be in trucking any more. These owner operators have a lot of money and responsibilities tied up in their businesses....and a lot to loose. Many drivers finance their trucks and have to make payments to a bank. Some even put up collateral to get their trucks. They have a lot vested....and a lot to loose. The drivers that even own their own trucks out right will still have obligations and expenses. They pay for it. They have full rights and responsibilities to their trucks BECAUSE THEY HAVE A TITLE WITH OT WITHOUT A LIEN HOLDER!!!

Going to an LP company and scribbling on a piece of paper is totally different. There are numerous cases where the LP driver decides he doesn't want to do it any more and leaves the truck and load or out right quits. What are you going to do to him....THE TRUCK IS NOT HIS!! No big deal....I tried to play owner operator and decided I dont want to do it.....Ill just leave and walk away. If you want to do that go to Prime, CRST , Trans Am, or Western Express....and many others.

 

I am not directing this to you snowman lol I am directing this to the people that have a skewed view of what an LP driver really is and the difference.

 

I agree and it sounds like you may have been involved in a L/P at some point and have personal experience in the matter?

 

It works both ways! If you buy a truck from a dealership or thru a bank, Hell the truck ain't yours either until you pay that final note and they give you the title either. I have leased and financed trucks and it is what you make it! Some people can not make money financing a truck, if you do not get off your ### and run. Leasing and Financing both have their Pros and Cons. I have leased to save and get money for my down payment on my financed truck. So it depends on what your GOALS ARE and you sticking to them and MAKING THEM COME TRUE! Now I would not lease a truck for 5 or 7 years. But if you KNOW HOW to run your business you will succeed. LEASING AND FINANCING ARE JUST TOOLS TO GET WHAT YOU WANT TO ACCOMPLISH! If you use them in those manners they will work! Been there done that!

 

He's everywhere preaching the same story.

 

Takes glass half empty to a whole new level.

 

There is a difference between getting the truck from a legit financing company and doing an LP. Are you sitting down. YOU GET THE TITLE WITH THEM LISTED AS THE LIEN HOLDER! YOU HAVE %100 RIGHTS TO THE TRUCK!! You can do what you please long as you make the payments.

An LP truck belongs to the carrier. It is not yours. You have no right to it. NONE!! You are paying for nothing. You are a company driver. BTW this is why many of the LP carriers now call it "rental" instead of "leasing." Cause specific trucking companies were sued

BTW there are LP companies that WILL GIVE YOU THE TITLE WITH THEM LISTED AS THE LIEN HOLDER and let you do what ever you want with the truck. Just make the payments.

This is not trolling. This is a very educated opinion to make people think about what they are doing before they get wrapped up in an LP. I will give credit where credit is due. I know there are recruiters that post on here (pretending they are drivers) spouting propaganda how wonderful LP is and how they bought 3-4 trucks blah blah blah.

I have seen many drivers ruined, sued, their credit destroyed and go personally broke on the heels of getting involved in a carrier sponsored/based LP. (this includes a carrier that owns a truck dealership).

I will say this. There are LP programs out there where you get the title with the finance company listed as the lien holder. THEY EXIST. You can go and do what ever you want and truck any way you want long as you make your payments. These finance companies don't care if you lease to a company that hauls rubber doo doo. Your business you run it and make your payments like a responsabile business owner.

The last issue is that the vast majority of drivers have no business background or training. Learning how to run a business is key before ever considering how to get a truck. I really mean this. BTW scribbling on a napkin at a truck stop counter using "fantasy math" is not what I am talking about. Getting into an LP is not a magic pill to solve ones financial woes. It will make it worse.

Cant afford school? Educate yourself. Many resources at Overdrive.com OOIDA.com Letstruck.com and many others. Heck...just soak up what you can.

Make good/educated decisions. Dont make knee jerk reaction style decisions.