I'm a lease purchase trucker. Loving it.

Discussion in 'Lease Purchase Trucking Forum' started by h82bbad, Jun 22, 2022.

  1. merv85

    merv85 Light Load Member

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    Mar 24, 2020
    Dallas, Tx
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    do you have brand new truck? is there a down payment first or balloon payment at the end?
     
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  3. Rideandrepair

    Rideandrepair Road Train Member

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    I thought the same. Not bad at all.
     
  4. h82bbad

    h82bbad Light Load Member

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    Nov 18, 2017
    Michigan/ Chattanooga Tn
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    My truck was a year old. A 2021 with 100k on it. Lease with a balloon (35k) price was 129k.
    I've been putting extra money in my voluntary account for pay off. I'm hoping to be able to pay it off early, in December of this year.
    I'm very happy with how they transitioned me over, some took a days worth of classes then signed over my life. :)
    Has everything been
    Perfect? No there has been a few snags. A couple slow weeks etc. Some learning curves fir me it figuring out the best ways to run my truck and travel lanes that leave me with the least amount of deadhead etc. After 13 month I'm still seem to pick up knowledge from other ic drivers as I go.
    But it really helps when you are with a company that wants you to be successful and facilitates it as best they can. If I make a lot of money they do also! I've been with this company since the beginning of 2018 so they were a comfortable fit from the start.
     
    Last edited: Jul 2, 2022
  5. h82bbad

    h82bbad Light Load Member

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    Nov 18, 2017
    Michigan/ Chattanooga Tn
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    It took me until Jan or feb to max my maint account, 24k (I was off work from nov2 to Dec 14th for medical reasons.)
    When you first switch 15% goes into you maint account. Until it fills up. If you use money out of it then it starts the draw again. So any maint I pull from my voluntary account or settlement. I actually wanted to transfer money to fill the maint account up early. But they wouldn't let me. Max 15% they do that to make sure you are successful.
    Smooth sailing once your maint account is full. Imo
    I took the easy road for me, in that I still fuel on their system (you can get you own fuel card if you prefer) but this way they do your ifta for you and you get their fuel price.i also pay a little for prepass and use the toll passes (small monthly fee) and I'm on their insurance program where I could use my own. It just made it easier for me to stay in the same routine as when I was a company driver. About the only thing that is different now is I get to choose my loads from offers, and refuse loads also.
    I have been putting 1500 a week in voluntary. And I currently have a balance above my maint account in it.
    Overall I've been pretty impressed with their program, but I have not been in another to compare it to. I stay on the road a lot. Probably wouldn't work for most. But I am divorced and the kids are grown, so it works for me.
    The waiting list is shorter for flatbed IC but I don't have any friends in it on the flatbed side to give a knowledgeable account of how it works over there. ( good friend starting flatbed ic next week, so I may have some info on it soon?)
     
  6. markealy

    markealy Road Train Member

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    EL PASO
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    Can you put your settlement on the screen thanks
     
  7. h82bbad

    h82bbad Light Load Member

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    Nov 18, 2017
    Michigan/ Chattanooga Tn
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    yes I could. No I won't. To much info that most don't need to see.
     
  8. REO6205

    REO6205 Trucker Forum STAFF Staff Member

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    California
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    Good answer. If you want to share information like that you can always PM it.
     
  9. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    Oct 22, 2016
    North Dakota, Eh?
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  10. h82bbad

    h82bbad Light Load Member

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    Nov 18, 2017
    Michigan/ Chattanooga Tn
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    For sure. I don't mind sharing my numbers. I have good weeks and bad. Last week was a zero! Trailer break down killed me.
    Since going Ic/lp I have noticed it is always better to watch the month and not the weeks.
    I haul all contract freight. So sharing would show cpm/flat rate pay/fuel surcharge etc. I doubt my company would appreciate that.
     
  11. REO6205

    REO6205 Trucker Forum STAFF Staff Member

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    Feb 15, 2014
    California
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    Good choice. You're right about a lot of companies not wanting their business out there for all to see. It's a personal choice and there are other means of communication.
    Put it this way. We're a small company and if one of our drivers was broadcasting our rates, and what we're paying for operating costs, and what we pay for wages he probably wouldn't have the numbers right to begin with. If he did I'd want to know, and know right now, how that information was getting out of the office. If I have that kind of a leak I better build myself a boat.
    It's not like were doing anything real special or secret or that we have anything to hide. We just don't see any point in putting our business on the street.
    If a driver comes on here and posts his pay stub or even his settlement sheet that's his decision. If he declines to do so that also is his decision.
     
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