Who has completed a lease purchase and fully owns truck with title?

Discussion in 'Lease Purchase Trucking Forum' started by OOIDA Media, May 7, 2010.

  1. danoles93

    danoles93 Bobtail Member

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    I'm 10 mo. into a 30 mo. L/P with P.A.M. $1500/mo x 30mo.=45,000/130 weeks = $346+/wk payment. $1.00/mi + FSC, average 2500-3000 mi/wk. in 2014 from 6/13-12/31 total settlement was $35,000, so minus 20% for taxes I took home roughly $28,000 in 6 1/2 months (this equaled my gross pay as co. driver from 1/1-6/13), that doesn't include what's sitting in my maintenance account (0.06/mi). I still live off what I took home as a co. driver and put the rest in savings. I leased a 2012 Cascadia w/ 324,000, I've only had minor issues so far with the engine and 2 tire blowouts.
    Solo drivers can succeed if they are careful with their money and have a company willing to give you miles. I'm not saying it's perfect, but it's not as bad as some of the stories I've heard.
     
    Jarhed1964, Bosscity318 and mqc1298 Thank this.
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  3. Truckin Juggalo

    Truckin Juggalo Medium Load Member

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    worked for me I bought my Freightliner from CRST Malone in August 2014 I've worked at Mercer Transportation Ever Since I got my Title
     
  4. Tata42

    Tata42 Bobtail Member

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    Hey. I would like to know more info on that
     
  5. Wickedfire77

    Wickedfire77 Road Train Member

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    Northern, Michigan
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    I did. I have my title
     
    SheepDog Thanks this.
  6. Lexis transit 4u

    Lexis transit 4u Bobtail Member

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    Aug 8, 2017
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    What company did you do lease to own from.
    om
     
  7. Slick Rick the trucker.

    Slick Rick the trucker. Bobtail Member

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    Who did they go through?
     
  8. frago

    frago Light Load Member

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    I Don't think the problem is as much the actual system of a lease purchase , but far more , the people who choose to sign up for them. If there was for instance a 5 year constant experience requirement and maybe even 5 years at the same company, the failures would be far fewer. Lease purchase isn;t the failure , the people who do it are.
     
  9. futurenow

    futurenow Bobtail Member

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    Feb 22, 2009
    Norfolk, VA
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    I've paid off 2 under lease purchase,,,with this after treatment in the newer trucks,,I find leasing more practical in terms of maintence upkeep,, the 2 I paid off are now stick wagon trucks,,
     
  10. Pepper24

    Pepper24 Road Train Member

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    Where did you do a lease purchase that you weren’t responsible for maintenance and upkeep
     
  11. Wickedfire77

    Wickedfire77 Road Train Member

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    Northern, Michigan
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    I think* they mean it was a flat rate paid for unlimited mechanical work done. I did the same thing. It was a maintenance program, not an account. Covered everything
     
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