Did you ever start and complete a lease purchase program,with what company,how you made it through,and how you may have failed. This is a very informative forum for all to see,please be as honest as you can be and to the point,let us all try to help others make their dreams come true. Final question on this subject,if you failed how do you think you would have done it and succeeded next time,if there was one. Thanks to all of you beforehand for your honest compliments,please include the info,at end,completion bonus type program,balloon payment at end and amount,o bal at end etc. This is to me one really important thread,for once and for all,until these companies get their act cleaned up and we can repeat this thread again for the companies that really make it honestly and possible for all to own their own.
I want to know for all of us
Discussion in 'Ask An Owner Operator' started by buck and a half, Jun 25, 2007.
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Yes i did it and survived to some degree. I wound up owning the truck after 6 years but the down fall was my own doing. I didn't pay my taxes like i should have and wound up oweing IRS a bunch of money so it took me another 4 years to pay them off. My mistake nothing to do with the lease purchase program. I got a private lease from a company in Omaha NE called Lease Managmanet Services. It was a real good company and you weren't tied to one carrier you could take the truck about anywhere you wanted and as long as you were running they were happy. They have there own shop which made it good for major repairs and they required a maintenance account and would work real good with you. Would i do it again probably not but i am in a better place now and can afford to do it right or will be blae to before i do it again. They are still in buisness as far as i know and still doing the lease thing. I had a brand new truck when i started out with them so my payments were high but i had no money down and started to work with 20.00 in my pocket so i started out in the hole before i ever got the truck but if you are willing to get out there and work and remember the golden rule you will be ok. The golde rule never get your freight and your truck in the same place you give them way to much control of your future that way.
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Thanks kd for the feed back and taking the time to explain it. I knew this thread would take a persons time to answer,but I also wanted to stop these drivers from ruining their good credit and their livelihood of driving a truck,I personally know of dozens that did not succeed as the setup was frauded from the start,these companies should be held liable,especially on the new rules of logging we have today.Its almost impossible to pay for the truck and support your family and pay for housing on these deals.thanks again for helping with your comments.That leaser did you great and its too bad we could not give them the credit they deserve on this forum,maybe wiseone would have a good idea.
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I've known two guys to do it, and I asked both of them the same question when they told me they were paying off their lease, "Got some chicken lights picked out?" And they both came back with the same answer, and a price.
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you know i don't understand what you guys are talking about the new rules. I nerver drove under them but from what i understand and the way i read them it should mean you can make more money noe than before. Man reset your 70 with 34 hours off and start a fresh 70 that is allot easier than it was when i drove you could never reset and if you took a 0 day it would kill you down the road in the 6th or 7th day you would have nothing to drive. Now with 11 on and 10 off and reset in 34 hours off man it seams like you could make a killing now. Its all most like running 2 books with out haveing to worry about getting caught. And the 14 hours on duty should never be a problem as long as you can still split break and make it work out for you but maybe i don't understand the 14 hour rules.
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Now a days, you drive for 11, break for 10 and no more than 14 on duty in 24( and by the way did I mention that all breaks counts AGAINST your 14 on.)
Sure you can still slip log it, but not like the old days.
The only plus to this BULL CRAP ruling is the 34 hour restart.
To be honest with you, now we probably have more drivers running fatigued than before, because if you pull over and catch a few z's, it counts against your 14 on duty.
Who knows how all this crap will work out, we just may have a new / revised set of HOS regs to go by soon as the courts have not ruled yet on new/ existing suits from numerous parties. -
The government must be getting a kick back from J.J. Keller because if there are others like me, the loose leaf logs get used like toilet paper after eating at the flying j!!!
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