Best Lease Purchase Programs?

Discussion in 'Lease Purchase Trucking Forum' started by John Joel Glanton, Apr 9, 2022.

  1. John Joel Glanton

    John Joel Glanton Light Load Member

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    I'm looking to run under my own authority and pick my own loads off the loads boards, eventually finding my own customers and hiring drivers.

    I am aware of SFI, Wasatch and TEL. Are there any others I should look into? Any suggestions would be greatly appreciated.

    Edit to add: Also looking for options for dry van trailers. I know of Premier and Ryder but I think they require one year with your authority first.
     
    Last edited: Apr 9, 2022
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  3. Short Fuse EOD

    Short Fuse EOD Road Train Member

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    It’s tough right now, not overpaying. Lease purchase market is more available when nobody wants to buy trailers. Not the case currently. If, - if you can wait till maybe the end of the year more options for you may appear. Those that started recently and were not well off financially may go belly up. Unfortunately, I personally know of some who recently have this month. You can try to go to a dealer and put some money down. When they start taking orders again or someone drops out, you may get one. -That’s what I did. Guy bought 20 trailers and backed out of two. I walked into the store at the right time. Good luck on your search.
     
    Last edited: Apr 9, 2022
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  4. Lexuslane

    Lexuslane Medium Load Member

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    You could buy someone’s authority that’s over a year old .
     
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  5. John Joel Glanton

    John Joel Glanton Light Load Member

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    That’s an interesting idea. I’ll look into it. How would I go about finding one? I’m assuming I would inherit any safety scores or whatever comes with it?
     
  6. Lexuslane

    Lexuslane Medium Load Member

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    There is usually some for sale on here , in the for sale forum section
     
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  7. Daddy Titanium

    Daddy Titanium Light Load Member

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    I want to hit on one thing, I know you said you know about tel, but I feel it needs said. They have a fleet leasing department too. They lease you a fleet of trucks. Some are new, some are the slightly used that the previous lessor turned in or lost, to used to lease to a single driver like me, but still available for you to turn into a company truck. From my understanding you don’t have to have your own authority if you want to put your divers in on say USA Trucks authority and run on the 65% load board. Leaving you the option to get your own authority after having a few drivers. Then you wouldn’t need trailers since you use their trailers. And when you get your own authority and customers, if you need trailers. TEL fleet leasing has those too. Should you go that route, you can switch to USA carrier board to fill the gaps of what your contract freight can’t if you need freight the 83% board has 24 hour settlement too. It’s the best way to grow, to build yourself while not struggling if you need quick work.
     
    Last edited by a moderator: Apr 12, 2022
    Reason for edit: Referral bonus solicitation
  8. John Joel Glanton

    John Joel Glanton Light Load Member

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    Quick update if anyone cares.

    Wasatch has no trucks and their waiting list is full.

    TEL requires me to move out of the northeast first (no problem) and lease on to one of a handful of carriers, USA Truck being one of them, where I would make about what I make as a company driver with a lot more headaches.

    SFI wants me to lease on to Schneider or JB Hunt. They require one year with my own authority before they allow me to run under my own numbers.

    In summary, these programs have high monthly expenses and you are limited to where you can book freight. I don't want to be stuck on one load board and splitting my income with a carrier. I will continue stacking my company checks while I apply for traditional financing.
     
  9. MysticHZ

    MysticHZ Road Train Member

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    Try Lone Mountain. They weren't my cup of tea, but they might work for you.
     
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  10. Heaveninamoment

    Heaveninamoment Light Load Member

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    Gulick worked great for me in a LP. Made great money at the same time too.
     
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  11. markealy

    markealy Road Train Member

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    you make 5k as a company driver
     
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