Governing lease trucks illegal

And some here are trying to help fill in those unknowns... Seems odd that one can quote chapter and verse of the IRS rules n regs but not even read/understand the lease that they signed... I am not attacking you so please don't start name calling. But just because you don't like the answers you are getting here doesn't mean they are incorrect.

Read your leases then tell us who owns and controls the truck... Not the 1099 driver.

 

His logic is still solid as in either lease or financed the "bank" still has some say... @CJndaTruck said "buy out" your lease not finance it to another third party that will still maintain some amount of control over the equipment. Neither Lease nor Finacing is Ownership... Which is what i think you are seeking... More control over the equipment used...

 

There is nothing illegal about it.although I do agree with you,companies should not govern trks that are on the lease program afterall you're making the truck payments not them.I don't think companies even let drivers pick out their own truck do they?so I ask you,what is the advantages to leasing?

 

The warm fuzzy goose pimply feeling that you are going to take over the world, then you get slapped with the Pinky & The Brain ending?

 

You said it way better than I could Mac...and yah once the name calling started I invoked the special Olympics clause regarding internet arguments. Stay safe your ownself.

 

most the drivers least 80% doesn't have any exp but they're sure quick to think they're going to make all kinds of money because that's what companies lead them to believe they re going to get rich.I would say companies prey on the new drivers the most because they know that's an easy profit .
If we only knew what exactly goes on behind closed doors there would be no-one leasing.

 

It is 100% legal.

You want to know why?

Because even as a carpenter contractor, you work under the policies of the company you are working for.

You have a contractual obligation to follow their policies, one of them is that they have governed trucks.

If you didn't do a lease purchase, then you wouldn't have that obligation.

YOU like all of us have to work under the state's regulations which in most cases follows FMCSA/US DOT regulations so yep a company can regulate the hours you work and even dictate some aspects of your work, like telling you to log.

I really wish people would lose the idea that the IRS has this or that to do with this crap, they don't. The same goes for class action suits, those suits don't come about easily and many of them never get to court because of the complexity of them.

NO one forces anyone to take their options or offers, the same with no one forces anyone to work at these companies.

 

Maybe... But you said it much more to the point than I... Still the same message... Which he will simply opt ignore... lol

Stay Safe,
MD

 

when you lease the truck and the company makes you put their name on the door with the words "Operated By" preceding, you fall under their authority and they actually control your equipment. if you operate outside of that control they will invite you to leave. Of course you can take the truck with you once you settle the outstanding balance. Most people cannot write a $100,000 dollar check on the spot though and they say give us the keys back sucka.

 

When your name is on the title, you get to have a say in who, when, where, and how whatever maintenance or repairs that need to be done are performed. When your name is on a lease, then the truck owner gets to have their say in the matter. Same goes with modifications to the equipment, settings, etc. If YOUR name is on the title, you can do as you please without asking permission from anybody else. If your name is only on a LEASE, then you must seek the truck OWNER'S permission before you can alter THEIR truck in any way.

And since you wanted to compare it to a house, it is the same. If YOUR name is on the deed, you can knock out a wall, add a room, or do whatever else you want to do with YOUR home. If your name is on a lease, then you can't without first seeking authorization from the property owner, who will likely also have a say in who you can or can't hire to do the work if they approve.

It doesn't matter if you buy the truck outright or have a bank finance it, it is still your truck because YOUR name is on the title. If it is financed, there is a leinholder...who has no say in what you do beyond protecting their financial interest in the asset. In other words, they're going to require full coverage insurance. You can get that insurance from anywhere you'd like. If you're leasing, well, the property owner keeps the insurance and makes you pay for it, usually as part of the lease agreement. You have NO say in where the insurance is bought because it isn't YOUR policy...it belongs to the ACTUAL owner of the truck.

Renting is renting. Owning is owning. Just because a recruiter wants you to BELIEVE you are an O/O doesn't mean that you are, unless YOUR name actually appears on the title...not just on a rental agreement.