First time leasing

Leasing threads always make me default to this image, Not that it so much apply's to the OP but just in general when I see a new "I am leasing, CR England a good choice ?" Threads.

 

I have succeeded and paid off the truck with one. Why it can be done it takes a extreme amount of discipline and a good Business plan to pull it off. You have to know what your goals are and what to do in hard times. So many people go into it not understanding whats going on and by the time they figure it out they are already screwed and working for free.

Please don't misunderstand us, we are not knocking you. Alot of us just want you to fully understand your choice so your not bankrupt in 4-6 months living in your moms basement while your wife has ran off with the pool man.

 

Your missing the point most of us are trying to make, you still don't have a business plan, and without one you have no idea how to make your self successful. And from some of your post you don't really seem to care one way or the other if you succeed.

So with that ill just say Good luck to you and I hope it works out.

 

Greatest scene ever.

 

A lot a of smartasses that have never leased will tell you what a bad idea it is.

A lot of smartasses that have leased and failed will tell you what a bad idea it is.

Only you can find out if it is a fit for you or not.

SNI is a good choice but note they are only hiring for replacement ICs so you may wait a long time.

I would highly recommend a walk-away or short term lease to see if it fits with you.

Do note some simple facts: you won't make much more than a company driver and in fact, may make less. You will have much more control over your job. You can't really go home that much (unless you're OK with crap wages). Geezus, I'm old...forgot the other points I was going to list...

You need to detiremine if you want to take ownership of the truck or perpetually lease. Do you want a higher payment lease where you own the truck at the end or do you want lower payments and a balloon at the end? If you have no interest in owning then the low payment, high balloon is the way to go PROVIDED you can turn it in and walk away or lease another.

Maintenance escrow. You must have one, whether on your own or through the company. I pay $0.09 per mile into one and it just covers my expenses. I would highly suggest $0.12-0.15 per mile. I'm just about to request mine be upped to $0.12.

I'm no expert, take or leave what I say/suggest. Starting third year of a lease and very happy with it; been cdl since 1994.

Just some thoughts.

TA

 

I'm still looking at this as a possible career move and also find (maybe) L/P or O/O interesting, but only under the right circumstances. That said, it appears we are headed for another recession later this year. Even if we do not enter a technical recession, I would expect a sharp economic drop-off. I would definitely have a plan on what you would or could do if you are not earning enough money to pay your bills.
From Bank of America via Bloomberg;
Railroad cargo in the U.S. dropped the most in six years in 2015, and things aren't looking good for the new year.
Similar periods of weakness have occurred in only five other instances since 1985: (1) the majority of 1988, (2) the first half of 1991, (3) several weeks in early 1996, (4) late 2000 and early 2001, and (5) late 2008 and the majority of 2009 … all either overlapped with a recession, or preceded a recession by a few quarters.
http://www.bloomberg.com/news/artic...ying-something-worrying-about-the-u-s-economy