Is leasing a waste of money?

Discussion in 'Lease Purchase Trucking Forum' started by sdh, Dec 1, 2016.

  1. MOGLAR

    MOGLAR Heavy Load Member

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    Telling someone that an LP is a bad idea is the same as telling someone that blowing money in a casino progressive slot machine is a bad idea. The odds of the company giving you a truck is the same as playing a progressive slot machine in a casino. Many will play.....very few will win. And you will not get your money back!

    I cannot begin to stress how insanely a bad idea doing an LP is.
     
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  3. MOGLAR

    MOGLAR Heavy Load Member

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    One final word of advise for people wanting to go down the LP rabbit hole.

    The vast majority of people get baited into fleece purchases because they have bad credit, no credit, financially over their head or broke. Now for the piece of golden advice. IF YOU ARE ANY OF THESE YOU SHOULD NOT GO INTO A BUSINESS OR SADDLE YOURSELF WITH MORE DEBT! It will require work....but you can improve your credit, lower your debt and straighten yourself out! Put yourself in a position to succeed. But unfortunately people want instant gratification and they are under an illusion that playing pretend owner operator will cure all their ills.
     
  4. Wickedfire77

    Wickedfire77 Road Train Member

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    You're painting with a broad brush, but for the most part, it's a warning to steer away from an LP if you don't have your poop together.
    That said, there are those few programs that do work. Granted, the mega carriers advertised programs are usually costly and favor the company.
    However, there are those that work out, and drivers end up with a title and sense of misdirection...a feeling of "now what?"
    For some, it may be wise to stay company.
    For others, an LP could be a teaspoon of delicious adventure
     
    Lonesome Thanks this.
  5. MOGLAR

    MOGLAR Heavy Load Member

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    LP is a scheme that is right up there with pay day loans. It is a tablespoon of fail sauce. There is no way a driver has a chance against the house. It's not a broad picture I painted. Its true. This is why mega carrier fleece purchase companies are even banned in some states.....so operate out of other states. Also, many fleece purchase mega carriers have been sued and lost many cases. Shall we discuss more? Courts have also held that fleece purchase drivers are employees.....not contractors.

    Look if someone wants to fleece purchase that's their right. Go ahead.....I won't stop you. It's like me telling some one smoking is bad for them. Still wanna do it......knock yourself out.
     
  6. Wickedfire77

    Wickedfire77 Road Train Member

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    I agreed that the mega carrier programs scheme is slanted to the company and the driver basically Marrys the truck.
    That's why I said if you find the smaller company who is invested in your success, it's not as bad a gig.
    I don't need to do a LP, I already did. Smaller company and I have the title. It's not for everyone, but it can be done, profitabley.
     
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