How can this option possibly work?

The reason they all wanna do the lease crap is they think by tricking you into thinking the plane jane ride you always dreamed of will be yours someday. Hence you will take better care of thier equipment.

 

Danm sounds like a werner driver make more than you lol that's not a lease if you don't have these freedoms

 

Leases are not necessarily a scam. Only the ones perpetrated by the " Primes" of this world are to be avoided at all costs.
but you have to decifer the terminology that goes with leasing. My wife for instance is
lessing her SUV via GMC and she's got a great deal.
I was in the auto business for many years so as long as you understand the wording and how they are calculated then you should be ok. Just don't go in and become a payment buyer. Leasing is just another wrinkle of financing.
But these companies like Prime and CRE sell you on the benefits as it's an EZ way to get into your own truck, even if you have poor credit.
just not a good idea at all in that context
Leasing does get a poor rap but if used properly in the right situation it's another good way of financing.
Good luck

 

WOW -good for you Mcubstead, i am starting to believe that only folks that are not driving can see through it --or those that have been tricked a few times already --and a few clear headed drivers that can do some math.
I think a drivers suffer from some kind of "Brain Shake" with promises of glory, money and a big shiny truck for no money down fog their thinking --you still can see through it (for now).
I dont know what the actual count on how many Lease operators "Make it" --but it looks like a very tiny margin.

 

So much truth.

 

They are not all like this.

 

No ignorance at all. It is an absolute shame most other students can't see this too. What you have described is a company driver that pays all the bills(and in my opinion almost guaranteed by design to fail). Not all L/P's are like that but most are, the recruiter's are taking advantage of the student"s ignorance(lack of knowledge, not stupidity)The best advise I have ever seen on here is drive someone else's truck for at least a year or more, because this job isn't for everyone, then if your happy with this lifestyle then just buy one on your own and lease it on to what ever company you want.

 

If you like playing "Chess" and you think you can win when you have nothing but pawns and they have all their pieces --go for it.
Might as well sign up for a pyramid scheme investment while your at it.

 

First off, join OOIDA. Google it if you don't have the number. They will review and give you honest answers about leasing. There are many companies out there that do not require you to sign a lease. The leases give the tax breaks to the company and also let them sell the product over and over. Plus they are getting 7% plus on their money.

As to why people choose to lease, I would say most of those who sign on, don't last but I have met drivers who did. ACT transportation out of Liberty, MO has many successful lease people and I think their lease is horrible. Yet they prove me wrong daily.

I think it is like those Rent a Centers or Aaron's. Why would anyone buy a Television that way? Because you get something NOW and don't have to wait and save. You get Scroged

 

You are dead on accurate. You end up paying 3 times the price.

GMan brought up a good point. If you lease a truck through one of those BUY.HERE.PAY.HERE joints, it's not necessarily a bad deal. Yes, you are going to pay a little more than market value for a rig, BUT

1. It's your truck! It has no affiliation with the company you lease it on to. What that means is, your company can't stick their hands in your pocket. You don't have to go with a Beancounter ECM program to govern your speed and power. Full factory specs, and your transmission of choice. Yours, not a beancounter's idea of how to set a truck up. I will guarantee you that you, the driver, will be worlds happier driving a properly set up rig.

2. You can go to the freakin house with sinking the bank account. Find one that offers a monthly payment deal, like Lone Mountain, and you can actually get a monthly payment that's 3 TIMES LOWER than what the victims pay for by leasing a truck from their carrier.

3. No bank shattering balloon payment. The trucking companies will have a fleece program where they will hit you for somewheres in the range between $700-1200 a week, depending on the carrier, and at the end of the lease, you pay the market value for the truck. Depending on the make, that can be about $50000-$75000!!!!! The small dealers will have a balloon payment that equals 2 months regular payment, or anywheres between $1600-2400. See the difference?

4. No bus ride for you. If you and the company are having difficulties, throw in an app at another carrier and have them email you an insurance paper. Peel the stickers off your truck and ride. No trying to get your gear out a truck and doing that grey dog shuffle.

PROCEED WITH CAUTION!!!!!!

Theres that place in Gulfport that advertises a bunch. Watch out for those places that speak of warranties, but in the fine print you read something about your PM services and whatnot must be done in their shop. That ain't cool. That's a scam. Especially if they're advertising a warranty on something important, like an inframe. If an inframe is legit, the shop that did the inframe should be willing to stand behind their work regardless of where you get your PM service done, right?

Before you go out and start spending money, ask your carrier for their requirements on trucks. Some companies won't allow certain age trucks, certain wheelbase trucks, certain 5 the wheel heights, etc on. Another thing that I do is recommend drivers to look at the setups of other owner ops that pull the same wagon. It may not matter as much when you're pulling a box, flatbeds need space for headache racks, long loads with front overhangs, tarp boxes...etc. A tanker may need to have the space for wet kits or a hose rack. A winch truck of course will need to have the room for that big winch, cables and chains. Plan accordingly. Measure twice, cut once.