Crime,inc

Am I the only one that remembers the Hurricane Express ads in the Truckpaper back in the 90’s? Big bunk 379’s for lease. Go be a big time owner operator. They’ve had the same business model for 25 years, horrible reviews all over google and social media, yet somehow they still get people signing up. People are going to believe what they believe. We see it here. “I know L/P is bad. But I’ve researched and I know I can make it work” Anyway, I’m rambling. Going to step out of this one. I believe in personal accountability. People should have consequences, good or bad, for their actions.

 

Ok...... you mentioned two different scenarios. It's one thing if you don't know any better. Its different when you come on here knowing what it is, and you do it blindly. The latter is when you should be held accountable. Anyway man, be safe out there

 

When I bought my first truck in 2011 I was freshly divorced. I had to have a friend of mine co-sign the note at the bank because I didn’t have any money to put down. I racked up almost $13k in credit card debt buying fuel the first month of running until the money started coming in. End of 2016 I had no debt and a paid for truck. Had the chance to get into something else so I sold my truck and house and I moved. I let that money sit in the bank while I worked a couple jobs. End of 2018 I got my foot in the door with the guy I pull for now. January of 2019 I got the truck I have now. I have zero credit card debt and only have a small payment on my truck. So in my mind I’m successful and I started with nothing. I know in my heart I don’t need a babysitter, other than the regulations I work under in this industry I chose to be in.

 

That's a great story.....and you worked your tail off. The reality is, if you didn't have a friend cosign for you, there's a chance your story takes a different narrative. You're friend had tremendous faith in you to give you a nudge and you built yourself up. Point is, nobody tastes success without a "babysitter," or in your case, a cosigner.....all of which, government regulated. It's no quick way to do things, and you definitely had a plan. Nonetheless, I give you all the credit in the world for your success.

 

How many people do you know go into buisness for themselves with a comfortable amount of money? Do you know how much of what you really on every day would not exist with that mentality?

 

Ok, I settled for x amount of money after my accident, I didn't really know how bad arthritis was going to get or how fast, should I be allowed to sue for more or should I be stuck with what I settled for? You can not have government digging people out of holes they dug themselves into.

 

A company lease agreement, a CDL school or college loan...

It seems everyone wants out, and at someone else's expense, for what they agreed to in the first place if it does not work out as they hoped it would.
(I know, not 'everyone', but...)

Ignorance is no excuse in any of these things.
The ignorant did not do proper research or give proper thought before signing their name to the agreement.
But not just ignorance, it is stupidity if they are actually incapable of understanding what is involved.

So many people want to play the victim and claim they were taken advantage of.

But if you sign a lease agreement it is because you want to take the advantage for yourself.
You see it as a way to take more control and make more money for the same loads you are currently running.
For some it works out very well, because they actually understand how to run their own company.
But for most it is a bust, because they went into the venture unprepared.

If one is ignorant, do better research.
If one is stupid, find a more suited job.

 

You’re right, it would’ve taken a different turn. I would’ve stayed right where I was at, working for a paycheck until I had the means to do it myself. When my divorce was final we didn’t have a bunch of debt, we were both just left with nothing. We bought a house in 2005 when the market was high, obviously not planning on divorcing in 2011, and ended up losing money to get out of it. But, magically we had this thing called a savings account, and it covered the loss but didn’t leave much else. So with no credit card debt and a paid for vehicle I decided to move back home when my friend said he’d help me get a truck. Are you seeing how years of good habits are playing into all this? It wasn’t luck that somehow I didn’t have debt. It took work. And I felt sick running up credit card debt paying for fuel, but I knew I was going to make it. I wasn’t looking for a quick fix. I wasn’t looking for someone to bail me out because the credit card company was charging me 15% for a few months until I had it paid off.

What doesn’t seem to be registering with you is that people with good financial habits don’t all of the sudden throw those to the side and start making poor decisions. And people with poor financial habits generally keep looking for that quick fix, which in this case is a lease purchase with dreams of making it big.

 

And that's why the government steps in. To prevent these types of bad habits. I am not fighting against you here. I am agreeing with everything you're saying. I dont believe people should buy things you don't have the money for. We are one in the same, while I dont own a business, but everything I have takes time and is still taking time to obtain. The reality is brother, some folks get good education about things. Others don't. How do people get good financial habits? Through education. That's what irks me the most. I dont have a problem with people doing LP, I just have a problem with companies targeting ignorant people, and rather than educate them and show them how this works, they just eat them alive. Now, if you have the education and you still make poor financial decisions, then you reap what you sow. In that case you're just stupid. All I am saying is that lessors should be allowed to make informed decisions, with education from the lease provider. Yes lessors have sources, they can come on here but as I said before, none of us can make it sound good. To them we are only stupid drivers.

 

In this day and age, it takes capital to go into business. Many palms gotta be greased. Gotta have something to fall back on during the lean times. Many of yall have said the same thing to prospective owner operators. I am echoing your sentiments.