Thinking of lease purchase, all advice welcome!

If it’s a mileage contract, don’t do it. If they’re leasing you a new truck for 900.00 a week, don’t do it. If you don’t already have your costs figured out to run a truck, don’t do it. Most LP are just buying a decent paying job with no profit in it. Why be in business if you can’t make a profit? They’re just using you.

 

If being home on the weekends is a deal breaker, then you really must look very closely at what you may be getting into. Each lease agreement is different but you will have payments, maintenance and insurance that will cost you upwards of $1,100.00 per week. And that is if you have pulled any freight or not.

Next you have to factor in,, who is finding your freight? Is it the company you're leasing the truck from or what? Your success or failure and your families well being is dependent on someone else who has no skin in the game. The reason you're leasing the truck in the first place is to be a business person and call your own shots.

Charleston is a port city, so there are a ton of trucking companies around. If you still want to be your own boss and be home on the weekends, then you may want to look into container hauling.

 

Were you getting overtime?

 

Check SAIA Ltl Freight. They are expanding

 

No.

 

Yes

 

Don't do it. Those companies aren't offering LP deals out of the goodness of their heart.
They offer LP deals because their costs are cheaper with you assuming all responsibility and liability for their truck.
Look up "indentured servitude" it pretty well describes what a LP really is.