Lease purchase as an option

Be wary with leasing due to probable poor maintenance. Tbis will lead to issues. Not to mention the sheer amount of horror stories pertaining to leasing.

Be careful. Good luck. Drive safe!

 

Just curious is there a reason why your wanting to do LP through that company and not go to a dealer to buy a rig?

 

Can't speak for the L/P side of the company, but I know someone that worked there as a company driver. Low pay, very little home time.

 

Post count join date.

 

i spoke to a driver no money in lease purchase at hirschbach it's at best 70000 a year before taxes and road expenses. Then in his case 52,000 buyout after 3 years. So 700 a week truck payment plus insurance. .09 cent a mile maintenance non refundable on a fully warrantied truck. over 1300 a week's deductions before you get started.

 

so he say 1000-1300 take home avg after tax.

 

I cannot give you advice about leasing with Hirshbach since I never did one with them, but I can offer you some advice since I am currently leasing with another company. There are several questions you need to ask yourself before choosing a company, but the following two are high in importance.

The first question should be why do you want to be a lease purchase driver? If it’s because you want to own your own truck then you need to evaluate the lease terms on many of these companies that offer lease purchase. Many of the lease programs offered are a permanent rental. They are not designed for you to ever own the truck because their costs are to high and you still have a large balloon payment at the end. Most of the time people are turning in their trucks and signing up for another lease because they don’t have the money for the balloon payment and they can’t get anyone to finance it because it doesn’t show up on your credit history unless you default.

Second question you should ask is,”do I want to be a business owner? If you really want to run your own business then look at how a lot of these plans work. It is a good way to get some experience of being independent without all the risk, but you do give up some control. How much control you are willing to give up is up to you. The biggest thing you want to consider is will you have the ability to access a load board and pick your freight? Are there limitations set by the company (will they control how many preplans you can have or will they tell you how far out you can deadhead to get a load)? If you are not able to see available loads and choose which ones you feel suit your business then I wouldn’t recommend it. First, if the company sends you loads to choose from, but doesn’t offer you access to the load board then you may as well be a company driver. Sure, they will tell you that you can turn down loads, but that doesn’t benefit you as a business. Remember, If the wheels aren’t turnin your not earnin.

 

Actually the second question is the only question … leasing is a business and wanting to own a truck isn't a business objective.