Saying "No"

I'm sorry, but 99% of lease purchases with the megas end in failure. I know that number is embellished but when are new drivers going to learn. Being an O/O is way more than just having a truck. You have to be a business man, mechanic, problem solver, freight coordinator, etc etc and a driver almost last. I'm glad I started when their was enough old timers to show me the ropes. The mentors are gone. At this point, I should buy trucks and do lease purchase programs. I could retire in 5 years off that money.

Even when I try to help friends out, who decided I didn't know anything with a 5 mpg hood for a truck, they went L/P and never made it past a year.

Drivers need to educate themselves and work hard to be O/O. Stop taking the proverbial easy road with L/P programs and nut up like the rest of us and take the risk. Make it or not. You can say you did it your way.

And go read Wonderboy's thread start to finish. Good info in there

 

Werner is not lease purchase you actually are buying a truck you buy it thru fleet sales and get it financed

 

It seems, that in this sort of ownership they will let you buy it but never own it.

 

Some of them are. Some of them aren't. Most of the ones I do a lot of business with probably aren't TOO bad as their drivers are excellent and they do a really good job. Those drivers definitely have plenty of options on other employment... And they seem to pick these guys of their own free will.

But yeah some of the worse Polish trucking companies are responsible for a whole lot of stereotypes lol.

 

Lol I'm not behind compared to other people in my age group. As for having kids and buying a house I suspect divorce would cost more and if that doesn't happen in the next 36 months I might end up that way. She's waited a looooong time and works just as hard as I do for the money we make. She's compromised a good bit so that we could get to this point.

I lost 10k on trying to train new brokers this year. I'll probably do the same next year unless one of them works out. That's where my 'business investment' money is going to go until I hit 5-10 people... It's just a better investment than trucks for me. I know literally everything about this side of the business and there a lot of gaps for me on the trucking side. I'll keep my money inside my circle of competence until I hit diminishing returns or need diversification.

 

They still hold all the cards. Can he take the truck anywhere at anytime? I doubt it. He is still locked to them and his financial gains or failures are up to them, not him.

 

I always said the most powerful tool in my box was the ability to say NO to anyone without consequence. You can have that leased on at a company but not just any company out here - read the fine print and know what you're getting into before you sign a lease.

 

I honestly dont understand how anyone can operate that cheap. 0-24 mile load could take half a day in some cases for live load and live unload for $2.45 a mile? Do they really only pay you $58.00 for a 24 mile load? What im i missing

 

There's a reason why I've paid 400 bucks for a local run in LA that goes 15 miles. When you hire a truck the miles are just the maintenance and fuel costs. Everything else you pay is for time both the time used on the (very expensive) equipment and the drivers.

 

Maybe you already did? I mean which is a faster way to go broke, twiddling thumbs or paying to move their loads?