Lease Purchase

Why?

 

What is the pay? And does the load board work? Is it true you only get 3 loads to choose from? If so, Is at least 1/3 options usually a "good load"?

 

Oooh, oooh, I can get THIS one!!!

The pay is as posted on the load board. It works very well for a large number of operators, and poorly who have difficulty managing their business, or (as can happen) run into the bad string of events. No, you get to choose from all the loads on the board (unlike when I was leased to Swift). Last question does not apply.

Good luck.

 

What he said

 

Is it better to get into a lease purchase with a company for an older truck? or to get into a lease purchase with a dealership for a new truck?

 

This is really not possible to answer. There are too many variables. I would start by determining what kind of an interest rate you can get on a bank loan if you’re going to buy the dealership. Then you can look at total cost of ownership and compare it to some of the more reputable lease purchase contracts available out there.

 

I have to echo the above. You have to start with how much do you have as a ready reserve when the breakdown happens. Even if the truck repair is completely covered (and often it is not 100%), you have the fixed costs to cover during downtime. If you have enough for an engine rebuild in reserve you can probably pick and choose the best deal based solely on the outlay for the truck. If you do NOT have that reserve, you have to have enough to keep you going through that downtime. The truck I picked I wound up with 25% downtime for various repairs, and rerepairs, and in 2 cases rererepair <sigh> because I trusted shops to do it right. AFTER the engine got replaced under warranty (that still cost me money) that downtime improved. BEFORE the downtime kept throwing me in the hole and would take me a week or two to climb out.

You MUST take the time to crunch the numbers for your situation, and listen to the advice you read here and elsewhere if you truly want to make this a successful venture. Get the answers to "What do I do WHEN this happens to me?" and be prepared. It can work. Sometimes it's luck, but not often. Most often it's a matter of being prepared for the breakdowns, and the constant maintenance once the truck becomes 'used'. I was NOT as prepared then, as I am now during my planning to come out of retirement.