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Looking for a lease purchase company
Discussion in 'Lease Purchase Trucking Forum' started by sunflyer, Mar 9, 2017.
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V c2c and REEFERman450 Thank this.
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it is not easy to complete a lease purchase but it can be done if you run it like a business and pick an honest company.
Last edited: Apr 5, 2017
Reason for edit: length -
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I would say work as a company driver first. Talk to drivers doing L/P with the company. Are there any drivers that completed the L/P, own their truck and continue to work for the company? Any that own their truck and chose to work elsewhere? Read the contract. Take it to a lawyer, have them look it over. A company that will not let you show the contract to a lawyer: Big Red Flag.
A good company will want you to be successful. An efficient owner operator is more valuable than an employee driver.
When you Ind an honest company, work for them, not against them. It's trucking. There I'll be bad loads, breakdowns and the other common problems that are trucking related. If you get pissed off every time a problem pops up, trucking is not for you. #### happens.
For example in Tacoma the SuprValu warehouse was designed for 96" wide trailers plus they take 6-7 hours to unload. I rarely got a delivery there. Twice in 6 years. I didn't like it but I did it without complaint. I saw a L/P driver get so mad he turned his truck in because they don't pay wait time. He lost sight, should have stayed focused on the prize: clear title in your name. I have seen some make it and some not. Run it like a business. Don't L/P if you have a lot of personal debt. I could go on but this reply is already too long.IAM KING Thanks this. -
I personally don't understand why anyone would lease a single truck from anywhere. If you didn't have a customer base that would make it profitable.Leasing a truck just to turn around and lease it to a company. why are you under the impression your going to make more money then a driver with a good job and benefits.Your not going to clear $100,000 probably not even $80,000 with no benefits.Is your goal simply to own a truck?which in all likelihood will be worn out by the time you pay it off.I had some say about companies leasing there trucks as a way of justifying why it's a good ideal to do it but those companies have a freight base to justify why they lease as far as a single truck that leased to a carrier you don't keep enough most guys who own there truck leased to carriers don't keep enough.Your just wearing out equipment.Making the company your leased to money. If your goal is simply saying you own a truck.You would come out better getting a good company job and saving 10% a week in a 401 at the end of 5 years that 401 will be worth more then that wore out truck
REEFERman450 Thanks this. -
What works for one person, doesn't work for another. We have been over this before, pepper24. Have you ever done a lease purchase? Or looking at the numbers you decided the revenue was insufficient? It was not easy for me but I successfully completed two lease purchase contracts in my last 6 years before I retired. You already knew that. Buying a truck, getting your an authority, IFTA, join a drug test/monitor group etc will be a lot more profitable. Having the startup capital is difficult for some. A lease purchase can get you started and work smart will get you to the place you want to be.
IAM KING Thanks this. -
51.50 Thanks this.
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It is a carefully designed scam. Dont do it.
Its like playing the progressive slot machine at a casino. Wanna be a sucker. Be my guest. -
Here is a question...
How do you keep from being taken to the cleaners at Tax time? Are here reference material out there that has " best practices" for taxes and LP/OO trucks? Thanks
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