I beat lease purchase. Yes. I beat it.

JetFuel17 · Feb 8, 2018

roscoedub72 said: ↑

I beat that lease purchase in 9 months. Here's how:
1. The truck was 49000, I put down 10k up front. Lease Payment 295.00 a week for 3 years. No prepayment penalty.
2. I drove my butt off saving up money to pay that lease off as soon as I could. Paying off the lease included all least payments plus residual.
3. I saved all that money every week for 9 months. The company kept me loaded and I was 1.07 a mile plus .23 fuel surcharge
4. I knew I was getting close to being able to pay all lease payments and residual so I let the company know I want to pay them off.
5. I could tell they didn't want me to pay all them payments at once, but I didn't care. If they wouldn't let me patty them off, I'd walk away and buy a 30k truck cash I was looking at.
6. They reluctantly gave me a payoff amount after 9 months and I happily gave them a check for that amount.
7. I think this company lease with me was shady because the title is not in the companies name, but it's in the truck sales office that sold it to them.
8. I'm leaving this company as soon as that title comes in the mail.
9. Leases..... stay away from them unless you are buying a cheaper truck with low lease payments.
10. I beat that lease, but I sacrificed other areas of my financial stability to do so.

My advice:

1. No lease payments over 300 a week!
2. Don't do over three year lease.
3. Make sure you have access to the maintenance account and it belongs to you.
4. Buy a older truck. Mine was 2013 with 500k miles on it. It's now February 2018n and has 600k miles. Its driving great, but i did have to replace turbo early on.
5. Drive that truck with the intent of paying it off early. Don't pussyfoot around In that truck. Be motivated
Click to expand...

AWESOME!!!!!!!!

yumptin · Feb 17, 2018

roscoedub72 said: ↑

I beat that lease purchase in 9 months. Here's how:
1. The truck was 49000, I put down 10k up front. Lease Payment 295.00 a week for 3 years. No prepayment penalty.
2. I drove my butt off saving up money to pay that lease off as soon as I could. Paying off the lease included all least payments plus residual.
3. I saved all that money every week for 9 months. The company kept me loaded and I was 1.07 a mile plus .23 fuel surcharge
4. I knew I was getting close to being able to pay all lease payments and residual so I let the company know I want to pay them off.
5. I could tell they didn't want me to pay all them payments at once, but I didn't care. If they wouldn't let me patty them off, I'd walk away and buy a 30k truck cash I was looking at.
6. They reluctantly gave me a payoff amount after 9 months and I happily gave them a check for that amount.
7. I think this company lease with me was shady because the title is not in the companies name, but it's in the truck sales office that sold it to them.
8. I'm leaving this company as soon as that title comes in the mail.
9. Leases..... stay away from them unless you are buying a cheaper truck with low lease payments.
10. I beat that lease, but I sacrificed other areas of my financial stability to do so.

My advice:

1. No lease payments over 300 a week!
2. Don't do over three year lease.
3. Make sure you have access to the maintenance account and it belongs to you.
4. Buy a older truck. Mine was 2013 with 500k miles on it. It's now February 2018n and has 600k miles. Its driving great, but i did have to replace turbo early on.
5. Drive that truck with the intent of paying it off early. Don't pussyfoot around In that truck. Be motivated
Click to expand...

Thank you

bryan21384 · Feb 17, 2018

roscoedub72 said: ↑

I beat that lease purchase in 9 months. Here's how:
1. The truck was 49000, I put down 10k up front. Lease Payment 295.00 a week for 3 years. No prepayment penalty.
2. I drove my butt off saving up money to pay that lease off as soon as I could. Paying off the lease included all least payments plus residual.
3. I saved all that money every week for 9 months. The company kept me loaded and I was 1.07 a mile plus .23 fuel surcharge
4. I knew I was getting close to being able to pay all lease payments and residual so I let the company know I want to pay them off.
5. I could tell they didn't want me to pay all them payments at once, but I didn't care. If they wouldn't let me patty them off, I'd walk away and buy a 30k truck cash I was looking at.
6. They reluctantly gave me a payoff amount after 9 months and I happily gave them a check for that amount.
7. I think this company lease with me was shady because the title is not in the companies name, but it's in the truck sales office that sold it to them.
8. I'm leaving this company as soon as that title comes in the mail.
9. Leases..... stay away from them unless you are buying a cheaper truck with low lease payments.
10. I beat that lease, but I sacrificed other areas of my financial stability to do so.

My advice:

1. No lease payments over 300 a week!
2. Don't do over three year lease.
3. Make sure you have access to the maintenance account and it belongs to you.
4. Buy a older truck. Mine was 2013 with 500k miles on it. It's now February 2018n and has 600k miles. Its driving great, but i did have to replace turbo early on.
5. Drive that truck with the intent of paying it off early. Don't pussyfoot around In that truck. Be motivated
Click to expand...

That's the best advice ever....you had money in your own pocket before you got started. Most people who lease don't have a dime to their name. You showed what a rear business man is supposed to do. Get money saved, then buy the truck

crocky · Feb 17, 2018

bryan21384 said: ↑

That's the best advice ever....you had money in your own pocket before you got started. Most people who lease don't have a dime to their name. You showed what a rear business man is supposed to do. Get money saved, then buy the truck
Click to expand...

Most people who go to megas are going because they have no other real options to make money.

gregbo · Mar 3, 2018

windsmith said: ↑

I beat lease purchase also.

I paid $8k cash for a used freightliner that I found advertised in the paper. I got the oil changed, replaced the fan clutch, then quit my company driver job and leased the truck on with the same company.

Just started my third week with my own truck.
Click to expand...

I started out the same way. I got 4 years out of a 8000.00 truck and don't work nearly as hard as the LP guys do.

roadgoddess · Mar 20, 2018

roscoe dub72 said: ↑

I couldn't GET over the fact that if this truck broke and I would have to fix it AND PAY ON IT AT THE SAME TIME.

That bothered me so much. That's a trap. No other way around it.

A 10k repair or higher would end me. My reserves would have been depleted PLUS THERE WOULD BE NO GUARANTEE this truck would not break again.
Click to expand...

I can't get over that you think that you wouldn't have to make a payment just because the truck broke down. Had you done an actual financing you'd STILL have to pay for it while paying to get it fixed. Payments don't stop just because the equipment ain't working.

Log in or Sign up

Forums

Find Trucking Jobs

I beat lease purchase. Yes. I beat it.

JetFuel17 Bobtail Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

yumptin Bobtail Member

bryan21384 Road Train Member

crocky Road Train Member

gregbo Light Load Member

roadgoddess Light Load Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

Log in or Sign up

Useful Searches

Find Trucking Jobs

I beat lease purchase. Yes. I beat it.

JetFuel17 Bobtail Member

Wait, employers can't reach you!

yumptin Bobtail Member

bryan21384 Road Train Member

crocky Road Train Member

gregbo Light Load Member

roadgoddess Light Load Member

Wait, employers can't reach you!