do you own the truck after leasing?

Discussion in 'CR England' started by Rollin_18, Jan 15, 2013.

  1. Drew352

    Drew352 Medium Load Member

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    Dec 28, 2011
    Leesburg,fl
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    Primes lease you DO NOT own the truck after its done.. From what I under stand you have to complete a 3yr lease FIRST then can do a lease where you buy a truck..
     
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  3. truckermario

    truckermario Road Train Member

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    Well it looks like Trans Am's minimum age is 21. All the website mentions is two preventable accidents in the past three years or less. They have a student program but no mention on if they have a school. Their pay rate is a little lean. Only 84 cents per mile. But their fuel surcharge is more generous than Celadon's so it about equals out. Their trucks come with Thermo King APUs. They're all automatics. Kenworths. I didn't find them to be a good fit for me. The miles were too space out and I'm not used to reefer schedules. They have a system called Blue Tree that's part messaging(like Qualcomm) and part GPS. It was dumber than a box of rocks.
     
  4. Rollin_18

    Rollin_18 Light Load Member

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    Dec 6, 2012
    Cleveland, Ohio
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    with transam when you complete the first lease is the truck yours? ima look up that leasing company the other person was telling me about(bottom of page 2) you cleared a ton of stuff about leasing up and also let me know i need to do way more research cause i didnt know that, i was thinking that after the first lease the truck is yours. thanks for all the help you guys are giving me. keep em rollin, im ready to listen. the only thing about transam is the auto tranns, im not a fan of them, it just dont seem like trucking if you ask me. yea your still in a big rig but shifting makes it bada$$ lol idk i guess thats my young age. i see some good in a auto though like saving your left knee and more focus when backing, i might give them a shot just on there website it says they can drop you whenever they feel without you even doing anything wrong.
     
  5. passingthru69

    passingthru69 Road Train Member

    drive their truck for awhile.
    Learn the bussiness. Save your money, then buy a truck.
    Why the rush to lease purchase right out of the gate.
    You're still young. Learn to crawl then walk then get your running shoes.
    Even a 1 year old can not run flat out in the begining.. JMHO
     
  6. RAGE 18

    RAGE 18 Road Train Member

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    Jan 31, 2011
    GOLD£N☆STAT£
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    Its kinda crazy how some new guys want to learn how to run when they dont even know how to walk.
     
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  7. Arkansas Frost

    Arkansas Frost Heavy Load Member

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    Aug 2, 2012
    North Little Rock, AR
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    Most of the starter companies that are going to lease to a 21 yr old with no experience will let you lease for a term of 2-5 years, then give you the "option" to purchase your truck. Given that both of you make it through the lease in tact. Good luck, you're gonna need it...
     
  8. socal

    socal Medium Load Member

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    Feb 18, 2008
    Los Angeles CA
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    What do you get after a completion of a car lease??? An Option to buy for Residual value! Same thing for a B.S. Trucking co. lease.
     
  9. dloving8915

    dloving8915 Light Load Member

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    Sep 18, 2010
    Dallas, Texas
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    The simple answer is most companies that lease the truck to you will still have a balloon payment after you have used the truck up, paid all the truck expenses etc..... SO, the answer is NO! Lease your truck for 3 years, make all the payments, maintenance, fuel. Making them a ton of cash since they dont have to pay for the truck.
    If you are going to do this, either get a off lease truck from some other poor guy just walked away from. or buy your own from outside the company and then lease it to that company
     
  10. Countyboy

    Countyboy Medium Load Member

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    Nov 10, 2010
    Littleton, NH
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    Just pointing out 1 thing. You have stated you don't have the best credit and that you have no experience driving.

    with a history of an inability to manage personal finances (bad credit) do you honestly think you should try to manage a businesses finances in a high overhead industry that you know nothing about? Seems a little far fetched to think you will succeed if you stop and look at the facts doesn't it?
     
  11. Dewey120

    Dewey120 Road Train Member

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    Mar 17, 2010
    Southern California
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    When I finished my lease with England you needed $7,000 down to purchase it. My payments were around $690 a week without the variable mileage payment (58 week payoff). Shortly after I bought my truck Horizon came out with this credit criteria that you needed to pass or they wouldn't even let you buy the truck even if you had the down payment.

    Now some of the CRE drivers I talk to say Horizon wants $14,000 down to purchase your Cascadia at the end of your lease plus you have to pass their credit criteria check list.

    Also Horizon does not report anything positive on your credit only negative things. When I applied for financing on a four wheeler my lease truck purchase didn't even show up on my credit report. The finance manager at the dealership said his son worked for England for about 3 months before going to a new company and he heard all the bad things they do or do not do.
     
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