Credits no good, this is why people are tempted to do lease purchase

Your credit has zero to do with you being poor.Before you even think of leasing, how much cash do you have saved up?
Do you know how to figure out how much, per mile, it costs to operate a truck? This is before you even pay yourself. If you have no money n the bank and don't know how to figure out your cost of operation, you shouldn't even consider a lease. That 2-3k a week doesn't mean crap when you have a $1000 a week truck note, $1200-1600 a week in fuel purchases, then add in plates, escrow, permits, and what not.

Not to mention you can buy a used truck for 30k and a trailer for 10k, he'll Schneider is practically giving them away, and then you can run under your own authority, negotiating your own rates, instead of a company stooge deciding how hard he wants to run you.

Bring a successful O/O isnt about running more miles for more revenue. It'd about about getting the maximum amount of revenue per per mile driven. More miles driven means more fuel consumed, more services and preventive maintenance, more chances of break downs, ect

 

Get your credit squared away, there are outfits that can help. Then save a few bucks and look for an older truck with a fresh in frame. Stay away from anything with an EGR valve or DPF. Look at something older than a 2002. Find one in good shape and fix it to your liking as you drive and make money. My buddy just found one like that for $14,000 and they financed it for him. So far, he has had to do some minor exhaust work, an AC compressor and belt and some minor brake work. Been a good truck overall. Better than my 2008 ProStar.

 

Clearing 2-3K a week = Over 100K a year on a lease-purchase? No. Those companies are ruthless and will chew you and spit you out as soon as you stop making the lease payments. I'd rather try and get a job for Walmart or XPO.

 

I myself have successfully completed a LP in 2014 on a dare (someone said it couldn't be done, I proved him wrong). That being said, I do not endorse them. Not to be a jerk about it, but if someone cannot manage their money when they have little, they will not do any better when they have more.
I concur with the purchase an inexpensive pre-emission truck and do your thing. I have a 2002 Classic that I paid $20k for this last summer. It is nearly paid off now and I am buying a second for an employee to drive.
Don't fall for the hype that a brand new truck with no money down will make you a successful O/O. It will make you dependent on the company with a potentially very bleak future. But if you don't believe us, go, sign a lease, and have your "freedom" to pull cheap freight at a crappy percentage and think you are doing great because you have a deposit of $1,500.

 

I can drive a truck.

 

Well I have a wife home that take care of our 6 daughter's, no she doesn't work and yes I have a home and car payment and the rest of bills like everyone else does, leasing is not for everyone, yes my credit is not perfect, but I can still finance a truck if I must, I lease my from quality because it was like taking candy from a baby, know it does cost more this way, if you are poor it's your choice and on only you can fix that, I came to this country at age 14 by age 24 I lay out my money and purchase my first truck, there guys out here talking about when one comes to this country the government give them a free truck I am waiting on mind, the biggest problem with guys leasing a truck other than it cost more is wear you lease on to and from who you lease the truck from, the next thing is most of theses guys park the truck at the shoe shine as in the Palish man, they must be able to see there ugly face in the rims and for get they have there weekly payments to be made, you can make it with a lease truck but if you come out here thinking and running it like you are a company driver you will not make it, you can not and will not make it working for 1.35 a mile, it will not work. You will need to learn the business first then talk about it, you must know what you are doing as you said go under a big company and that will make you safe yes and no the big fish will do what to the little fish, yes of the big companies are ok to do it, but you must do your homework first, I am with a big fish but my big fish is smart they are not looking to eat just once they want to keep eating there four they are willing to get you under a tree and slowly feed off you, but if you are not smart enough to learn what they are doing you will be out side looking in good luck driver, be warn do your homework driver

 

Not all carrier purchase plans are bad or intended as a profit center .
Some like my small carrier use it as a retention tool and offer the 4 year old trades to the drivers at wholesale price on a 2 year note ..at 24 months they hand you the title .

 

You are right, but a lot of guys don't do there homework and only think about it after they are about to lose everything they had in the first place,

 

Can you do it? YES! Do most guys succeed on a lease purchase NO! What separates them? Many things, run your truck like a business being the first. Find a long time successful older guy at company you lease to. Then pick his brain going down the road. Listen closely and separate the bs from the real deal. Ask many many questions. Then ask the same question again later. Learn how to manage your money. On another post, a lady had leaseen purchased a truck. AfTER all expenses truck note, ins, fuel, maint, plates, escrow etc... She was avg $2-2200 a week home in the bank. I had guys (young guys not 20+year vets) saying that was pis poor and not enough. Well we would all like to make more. Anyone who says $2000 a week is ####. Is full of the same. 1800-2200 miles a week $2000 after expenses (except taxes) 40 weeks on road (that's 3 months off) = $80,000. Is not ####. Ask the people living off $30-40k a year.