Good things about a lease!!!!

i'm an o-o with a title to the tractor in the filing cabinet. to do so i drove the other guys truck and did what i advised everyone else to do. been there, done that. i don't just "know a guy", i AM a guy......

i stand by what i said. if you or anyone else are one of the lucky few, then good for you. if you are like the other 99.999999998%, then you asked for it pure and simple.

"i just got my pilots license in a piper cub. anybody know where i can lease/purchase a boeing 747"? it the same thing. film at eleven.

to those involved or are some sort of starry eyed goober, NOTHING is gonna sway them, so hey! party on dude! until you have a clear title in your name only, you are nothing more than a glorified company driver who has all the responsibilites of ownership with all of the libilities, and none of the benefits. think not? go tell your driver manager you are quitting and putting your lease purchase hot rod on with a better carrier. see you in jail.

 

If you knew how much money these companies make off these lease purchase deals it would make you sick, the trucking companies are only paying so much for the trucks but they turn around and lease it to some poor sucker for about twice the amount per month.

 

http://www.thetruckersreport.com/tr...ers-advice/108869-my-25-week-w-2-proof-2.html

I posted my W-2 for a 25 week year as a company driver! I've listened to L/P drivers try to say they "bring home" $1500 and over a week and when you ask them what they make per mile or if it's a percentage they come up with a stupid CPM of $.80, $.89, $.90 and mile with some pathetic FSC of $.20 -$.29 a mile! OR 25% of the load ROFLMFAO!

You go deeper and ask them their average miles a week and they'll come up with "well a good week I'll get maybe 2500. I'll grin and kinda smile or out right laugh at them and in my head I'll have already figured that, ok you GROSSED maybe $3050 and you haven't even taken your operating expenses out! Give me a break!

And I mean ALL of them which includes a medical insurance plan and a disability plan (like that duck's plan) and the taxes you owe. So many drivers think you only have to pay them at tax time but they don't realize that Uncle Sam charges you for that mistake in late payment fees! It's only a few HUNDRED dollars but if you're gonna throw money away throw it my way! You're in this to MAKE money not throw it away! And you're doing just that leasing a truck with 300,000+ miles on it or 3 years old that had a whole heard of rookie drivers in it trashing it and the engine and transmission!

There are NO positive things with a lease program. As stated earlier and as I've said for years is all you are is an UNDER PAID COMPANY DRIVER! You pay for the truck, you have NO say as to how fast the truck runs, where you go (yes it IS a forced dispatch contrary to what L/P drivers will tell you!) or quitting that company and taking your truck somewhere else!

You have to beg for repairs to the truck out of YOUR OWN ESCROW account! If they have no loads and you find a load they won't let you haul it! No kidding they usually will not take a load you find when their "experts" can't! Case in point, I drove for a guy last year leased to a now defunct bottom feeder and was stuck in Spokane, Wa. After 2 days I found a reefer load out of Seattle from an old broker guy I used back when I was an owner and it paid $3.45 a mile AND tolls into NYC and the hazard pay and NO lumper fees! 2899 miles, a nice load if I say so my self! The company would not let me get the load as the bottom feeder company broker would NOT get his higher cut! Go figure. The owner of the truck was furious as that was $2.20 more than he was getting or $10001.55 gross and it was HIS truck! Well he thought it was!

You asked for positive things about a lease. Look at the experience of the guys replying to you and figure out who knows better 20+ years or 1-5 years?
Go to the "Good company" thread and read in there but read more in the bad company and don't just rely on this thread only! You're making a lifetime decision here and thinking you know what to do and you have NO experience trucking. You need to get the free experience of being a company driver. Trucking is not like running a burger joint, landscaping business, sandwich shop, gas station or hair salon! They all have their differences but trucking is brutal on a new comer! LEARN first as a company driver! Sit in the truck stop restaurants and LISTEN to the heartbreak stories and you'll hear nothing BUT heartbreak and not one will tell you he's winning in a fleece! EXCEPT on the CB! He'll get laughed out of the truck stop trying to bull crud all of us old bull crudders! We've seen it for to long and I live in the town that's home of the worlds biggest L/P company! You don't see ME leasing do you?

Go to a dealer. Select a NEW truck, a truck with a good resale value after say 3 - 5 years. TIP: That is NOT a Freightliner. They have NO resale value and that's part of being in business. You'll need to trade it in and there is no trade in on a FL! After you are told the cost of your truck that's setup the way an OWNER needs, go to the bank and ask for a loan. You'll get turned down if you don't have a down payment but you'll get the numbers you need. Then figure which is the better deal. A fleece on a broke down POS FL as Freightliners are the most common trucks in a fleece program or the deal through the bank?

The fleece will SOUND better as "Hey we're getting you all this "free" stuff like tags, insurance at a discount, fuel discounts and other BS but the thing is you want to go into business so you saved up money for a down payment, tags taxes and insurance (yeppers truck, cargo, health and disability) authorization and an operating capital of maybe $20,000 (this will tide you over until the money comes in from the loads you hauled) and when you start getting incoming payments on a regular basics and are now running in the black you're good!

This means that you can go home WHEN YOU WANT without getting permission from the company you're stuck with on that fleece.

You actually get to go where you want or where to stay away from as you're getting your own loads through brokers that you have to check out or through a company that you know of that wants a few good drivers to haul their products ( this is self brokering and no you do NOT need a license to do this as you are not paying anyone for services rendered)

You get to set the truck up the way YOU want and not some company dash and setup which by the way is the cheapest interior and dash, engine, transmission and rears and everything else and then leased to you at STUPID prices.

You can IDLE when you want and not have to answer to some MORON who goes home every night and sleeps in a cool or heated home and office!

You even get the decision to buy an APU for the truck.

You get to pick your routes

You CAN join a fuel savings plan for discounts through Com Data and other companies and even through OOIDA. Yes this MIGHT mean you have to fuel at a Pilot or other stop over the Petro, Flying J or TA but saving money on fuel is a good thing!

It's YOUR truck and YOUR Company not a CRE, Prime, Swift, JB or whoever deal! You make ALL the decisions and not some college graduate or drop out sitting behind a computer who has never been in a truck!

You're trying to be a business so go into it like one with a business plan with the money needed to run this business and you'll do ok after you get the experience needed in this field. As said by me and others, why pay to drive someone elses POS truck?

 

Yup, my very first truck was brand new and paid off in 4 years. When I first started my trucking business the first thing I did was get incorporated, then I went to the bank and opened up a corporate bank account with a line of credit, got a good accountant and went to the dealer and put down 20,000 on a new truck, since I was very young at the time (in my early 20's) I needed a co-signer, if it is your first time and you don't have much experience in trucking yet you may need one as well. by the way banks don't like to deal with trucks, it is better to go with a finance company specializes in trucks.

I know these lease deals make it easy for someone with bad credit to get into a truck but you will need good credit to run a business, sooner or later. How else will you open up accounts for truck repairs, or to pay for the unexpected. What happens if you blow a motor and don't have warranty, how will you get the funds to pay for these major repairs?

I don't know what is wrong with a Freightliner, I wouldn't worry to much about the brand, especially for a first time truck, you don't want to go crazy with a huge payment that you can't afford. I have seen guys try to live to large to soon and they go out and buy the big fancy truck and then loose it to the bank.

I now own 4 trucks, employ 5 drivers on a very good contract and now only have to work a few days a week, I can relax at home and still make money. I mostly just cover the drivers when they take time off, so I think I have made a good go of owning a trucking business, not just being an owner operator.

 

My husband leases a truck from CR England and I will tell you this - I cannot wait until the lease is up. We are losing money hand over fist every day; nothing but negative paychecks week after week. If we had this to do over again, we would steer clear of the lease option; total scam, total ripoff and we are totally miserable.

 

Like I've said before with what they make off lease purchase they can afford to cut rates and haul freight for nothing------>>>BOTTOM FEEDERS !!!!!!!

I hope your situation gets better, hate hearing stuff like this....best of luck

 

You ever notice that lease truckes are governed higher. You suppose thats because the company there leased to is making money for every gal you put in the truck

 

Some companies buy fuel by the millions. They in turn get discounts. So everytime you pump." money in there pockets". Company trucks are slow. Lease trucks are fast. There a reason for that.

 

Some companies do pass the discount on to the driver which ACT is one of them. Right now we are getting about .50 off per gallon. Yes our company trucks are governed at 65 and my lease truck is governed at 72 but just because it is able to go that fast does not mean I drive it that fast. That is how you screw up and waste away all your profit. I rarely drive over 60 mph.

 

Umm... That logic just doesn't add up. Buying fuel at a huge discount is still buying fuel. So unless the oil company is giving the trucking company the fuel for free AND paying them to take it, buying fuel is money OUT of the companies pocket no matter how you slice it.