Lone Mountain Truck Leasing
Discussion in 'Ask An Owner Operator' started by gulfinc, Mar 1, 2011.
Page 53 of 55
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I have been in trucking for 30 years as a driver, owner operator, and also a broker, I've read through this thread and I can see a couple of issues with some of the negative posters. First, I can tell that many of those who had bad experiences were very inexperienced in both trucking and in running any sort of business. I would recommend that before you purchase any piece of equipment, new, or used, you have enough saved up to pay your fixed notes for two months, plus a cushion for your personal expenses. If you cannot manage your money well enough to do that, you cannot afford to become an owner operator, period.
Second, there is a contract. Read it. This contract is what will govern the sale, the upkeep, and payments of the truck throughout the life of the contract. Also, when you lease a vehicle there are always certain conditions and policies regarding the responsibilities of operating and maintaining of the equipment. If you don't understand the contract take it to an attorney and pay him to explain it to you.
I am considering purchasing a new truck through Lone Mountain, if I do I will still go over it very closely. I have saved enough to make the down payment, purchase a trailer, and get insurance, plates, and get my authority, as well as enough for fuel, truck notes, and routine maintenance. I think that LML seems to be a decent outfit, and that is important to me.207nomad, Sphillips38 and flood Thank this. -
PERIOD!!!!4 year 500000 mile warranty.
Its considered a lease,so every pymt is a write off.I have verified that with a tax pro.nofilter Thanks this. -
Any problems with the trucks? How is Lone Mountain to deal with if there are problems with the equipment? I have heard pros and cons about them. What about down payment? Credit requirements or credit score, monthly payments? There have been some who have recently asked me about where they can find financing for bad credit.
nofilter Thanks this. -
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My Used lone mountain volvo had 512k when I bought it.. I now have 1,208,840 miles on it.
The only work I've had to do inside the motor is the injector cups. The only work on the transmission (auto-shift) is a clutch and x y shifter. Only work on the differentials was bearings -
It doesn't matter where you buy a used truck is a used truck.
dunchues, freightwipper, CJndaTruck and 1 other person Thank this. -
I research this extensively, I am still uncertain the amount of year as the IRS is confusing but if you choose 5 years for a 60k plus loan, you get a sizable deduction every year and you can deduct the interest you pay on the loan, so it even itself out with a lease as far as taxes golilman Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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