Best company for lease purchase

I must say, after reading some posts, I am suprised and happy to see drivers who are smart enough to see the lease/purchase game.

 

I want you guys to realize one last point. In 2004, you had to make $1.10 per mile just to break even. Its 2011 almost, and fuel costs, tires, taxes, tolls, etc have all risen. At .92 per mile, you ae digging your own financial grave.

 

I have asked the question a couple of times, if any of the critics here have done a lease purchase. Well I have,and I have made money. 2009 my wife and I netted $110,000.00. This year we will do a little less, because we took off the month of July. Running your own business is just that. Every business I had I paid a lease for something, usually the building it was housed in. Leasing a truck is no different. Almost every Lawyer, Doctor,retail store, resturant, have to pay a lease for thier building, the place they do business in.

I do agree there are some sham's out there. But if you read your contract, and understand it, you should know weather to go into it or not. the bad thing about a lease, is the person going in to it does not know what they are getting in to. You people do not have the right to tell someone you can't make money with a L/P, if you don't know what you are talking about. Most of you know me from this forum here so I do not have to name the company I am leased to. I have the settlements, and my tax records to prove my point

 

You are the exception, not the rule. I think you would agree most people see a fancy truck and see a decent settlement check and think it's all gravy. Most do not know what they are getting into. They get hoodwinked into believing that it's easy, and they come in with no accounting skills, no knowledge of anything on the truck they are driving. I've seen "owner operators" who can't change a headlight. I think if anyone that has thir heart set on it needs to learn a lot before they sign any contract.

 

I agree 100%

 

Take a look at Lone Mountain Truck leasing for a real lease purchase. Never owe money to someone that controls how much money you can make,PERIOD! Thats just bad business. My brother, Chucky, leased at Lone Mountain, put $15K down, paid $728 a month, owned his now four yr old truck in 30 months. Ran that Volvo for 3yrs with no payments, then bought a 1yr old KW T-660 cash. You really only need $3-5K for a down payment, if You cant save $5K in a year of driving, then you have no business being a lease operator or owner operator.

 

Lease Fleece Lease Fleece Lease Fleece..What a load of crap you lease haters spout. There are good oportunities out there and for you guys just to lump them all into one and say they are all crap is juvenile. Like LMB & Papi1960R, you can make good money if you choose right.
Yes you need to have a brain, yes you need to have biz sense, yes you have to do your homework, well I guess that does leave 75% of you in the crapper.

 

Good point Dryver, however that is the problem. Most drivers who lease are just jumping into it with no business sense, no money, fractional driving skills, no mechanical skills, want to be home every weekend, are picky about where they want to run, etc... Hell I could go on and on. Those of us who are experienced know the game. It's not the companies fault so I don't know why the blame is put there. Yes they make money from leasing drivers trucks, why would they do it for free? The only thing I see that the companies could improve on is that they screen drivers better. Maybe also require a minimum of a year or two of experience. My wife and I leased from Central and did very well. Central also offers business classes to drivers and has an owner operator mentor program. We were mentors and were on the phone daily helping drivers.

 

LMB--would you be willing to share more of the details on your lease program? I am not sure if it was you, but I think you posted you were paid .92/mi + FSC. I have to say I would be shocked if anyone could net $110K with that as a mileage rate. You did mention your wife, so maybe you are running a team. Maybe there is something different about your program that others should be looking for. Otherwise, could you isolate what you think allowed you such success? What is your formula for success? If others could replicate that, there would be a lot fewer unhappy truckers on this board.

 

Of course we were running team. They pay 0.93 cents per mile, plus a .02 cent a mile saftey bonus.(plus fuel surcharge) Our net per week AVGERAGE $2900.00 befor we paid our taxes and social security. We run 5500 to 7000 mile per week, and yes we could run 7000 mile legally. Our success was do to a great DM, a well maintained truck, and keeping our speed down for good fuel mileage. I never turned a load down, and believe me, thats a big deal. We stayed out 6 weeks before coming home. We had a tremendous amount of drop and hooks, which kept us running. I would take my 34 on one coast, and my wife on the other, Our gross last year was $284,000.00. I keep great records, so our deductions are good.
I have owned a bar, 2 resturants, and a computer shop, so I am not new to running a business