My lease purchase story

Discussion in 'Ask An Owner Operator' started by miakica, Apr 5, 2009.

  1. miakica

    miakica Light Load Member

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    Mar 17, 2008
    Great White North
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    OK,
    Here is my story…
    I am an owner – operator, leased to a company in Canada. At April 15th, I will be making my last payment on a truck, and then, it will go on my name.

    I bought a truck trough a lease purchase plan from the company. I know what you all thought when you read this….
    Lease Purchase…..Stay away, don’t touch it, they will lie to you, they will use you…
    Well, I am happy to report that I found that ONE Company…The ONE that will actually do what it said it will…As promised…
    It is a small company, with about 150 trucks. Of those 150, 20 are company trucks, and the other 130 are Owner-Operators.
    I drove the truck that I bought for 2 years as a company driver, and then I decided to buy it from them. Terms were, in my opinion, fair…20 payments of $1000, taken of the statement, no down payment.
    Truck is a 2003 Freightliner Classic XL with 550 CAT, 13 speed and .390 differentials. This company lives by safety rules, and most important, driver feedback…When I was a company driver, every time I came home from the road, I would give them a list of things that were not good on the truck(in my opinion). Every time, every single thing was repaired….Not patched up, REPAIRED. If it wasn’t, truck wasn’t going on the road, and I was paid $200 layover, which was taken out from the Shop budget for a year. They expect a same level of maintenance out of owner-operators too…Monthly maintenance check HAS to be done in the company garage, or you are not getting dispatched.
    As a company driver, I was held for no loads back to Canada numerous times.
    Every time, it was a same story….”Go to a hotel, and make sure you bring us the receipts…” Hotel, meals, and, they even paid for a beer or two on occasion…And I was paid $200 for every day with no load.
    I was held back, as a company driver, because of owner-operators…No hard feelings, cause I was told on my first day in orientation: “ Owner-Operators and lease purchase guys are first on the list…We have to take care of them first. Company trucks are second tier….If O-O-s can’t get to it, then we do. We are an Owner-Operator based company..”
    Well, I have no reason to complain, this was my rant, as an answer to guys who say that there is no good lease purchase companies in this world….I know of one company that has a good lease purchase plan, gives you loads, and treats you as well as company truck (if not better).

    MY COMPANY....


    Thanks for taking time to read this, and all the best...
     
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  3. MedicineMan

    MedicineMan Road Train Member

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    that's good to hear.
     
  4. BoostedTeg

    BoostedTeg Road Train Member

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    Boise ID
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  5. Brickman

    Brickman Trucker Forum STAFF Staff Member

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    For every one ray of sunshine there are 1000s and 1000s of FLEECE purchase deals gone bad.
    Just say no to fleece purchase.

    Thats good you didn't get jacked, but I thought I had found a fail safe fleece purchase. I lost $30,000 investment.
     
  6. 112racing

    112racing Road Train Member

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    Nov 30, 2008
    pocono's, pa
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    thats great!!!! must be some canadien buisnessmen actually have morals compaired to their stick it up your butt american counterparts
     
    trucker43 Thanks this.
  7. 2hellandback

    2hellandback Heavy Load Member

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    Dec 19, 2007
    Blackfoot Idaho
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    Reading this made my day,,,gives me hope,,, good to know there is something good in this biz! To bad its in canada.Wish it was that way in the USA
     
  8. Crotts Trucking

    Crotts Trucking Medium Load Member

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    Dec 23, 2008
    Duncan, AZ
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    Thats good to hear. I know of a guy in Iowa, who does good lease purchases, and I leased a truck from a leasing company, that did me right, but they didnt care who i was leased to, or anything, as long as i kept ins. on it and payed them every month.:yes2557:
     
    trucker43 Thanks this.
  9. jtrnr1951

    jtrnr1951 Road Train Member

    I'd sure like an update.
     
  10. Beechvtail

    Beechvtail Light Load Member

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    Jul 14, 2009
    Wisconsin Rapids, WI
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    Probably Out of Business...
     
  11. miakica

    miakica Light Load Member

    239
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    Mar 17, 2008
    Great White North
    0
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