FMCSA says leases are bad mmmkay

Discussion in 'Lease Purchase Trucking Forum' started by Chi Town Steers, Jan 25, 2025.

  1. Chi Town Steers

    Chi Town Steers Medium Load Member

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    FMCSA says scum bag companies have screwed over so many silly truckers that leases are now illegal.

    with over 90% of leases ending before the driver owns the truck, it’s amazing these scum bags got away with it for as long as they did.

    the question is now, how will these scum bags find new ways to screw over silly truckers.
     
    austinmike Thanks this.
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  3. Wickedfire77

    Wickedfire77 Road Train Member

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    Change the language to “rent to own”
     
  4. NorthEastTrucker

    NorthEastTrucker Heavy Load Member

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    Brokers already have for most carriers with enormous low ball rates. Instead of them taking 25% they flipping the numbers too 52% or more. The business caters to brokers.
     
    Chi Town Steers Thanks this.
  5. brian991219

    brian991219 Road Train Member

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    They will form seperate financing companies to do the funding and servicing of the lease. Something similar to what Schneider Financial does, where you can take the truck anywhere you want if it is an approved company.

    The FMCSA Truck Leasing Task Force report is just a recommendation, not law or regulation, yet, but it did leave open the possibility for third party leases. It only attacks leases where the motor carrier directly provides the truck and work while controlling the payments.

    They will just start new companies to do the leasing service, make it look like you have a choice of where your truck works, and go right back to screwing over those that want the American Dream but can't afford to do it the right way.
     
  6. Chi Town Steers

    Chi Town Steers Medium Load Member

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    Ahha you might be right.
    One thing is for certain they will find a way to screw over silly truck drivers.
     
    Albertaflatbed Thanks this.
  7. Opus

    Opus Road Train Member

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    Well, it's not just truckdrivers. You can't legislate car dealers from selling an $80,000 Silverado to an 18 year old with $800 a month payments.
    People are always going to find a way to be stupid.
     
  8. Ridgeline

    Ridgeline Road Train Member

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    no the FMCSA didn't say this, the advisory committee reported that this needs to be outlawed, it is an attempt to look like they are doing something when they don't want to tackle the really important stuff.

    You do not want more limitations in this industry.
     
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