Becoming a “team owner operator” questions.

Hey everyone, I had a couple questions about doing this before I just jump into it.

We have a job offer from a company that is offering a lease purchase. Here’s the terms and conditions
-2016 freightliner cascadia with 250-350k miles(old prime trucks)
-2600 a month in truck payment
- we get 75%of load
-we use their reefer trailer(small company so everything would be live load/unload)
-we pay a portion of liability
-we pay fuel, but get discounts
-self dispatch, and we negotiate our own rates
-no factoring, company pays each Friday based upon what paperwork was submitted that Monday
-they pay for plates, permits, etc.
-we pay a portion for using loadboards(DAT,Truckstop etc.)


OR

We can finance a decent older truck, let’s say we put a down payment on a truck that has 300-400k miles.
Sign onto someone like loanstar and make 65% but deal with majority of drop and hook since we are a team.

What do you think our best option is? Lease purchase with one company, or finance our own truck and lease onto a different carrier who could provide better discounts etc?

Thank you!

 

Forgot to add, only a 100 dollar balloon payment at the end of the lease

 

But is going into debt with a 100k+loan really the way to start it off?

 

1.5

 

One-1.5 they want us to pay it off as quick as possible so the truck can be ours