lease program

36 week lease, WOW, those payments must be out of this world...unless it's a Volvo

 

Sure, there are leasing options outside of the carriers, but not for new CDL holders. They have limited avenues to enter the trucking business. And I think you mean 36 MONTH lease. Which is fine but if you're leasing a truck that originally had a FMV of $50k and at the end of 36 months you paid $70k, I'm not so sure you didn't make the leasing company more easy money than perhaps you made working your butt off and praying for no loss of work. Furthermore, the leasing programs at the mega-carriers that hire new CDL holders do not provide great leasing deals, period unless you're leasing an already wore out truck. Most of the "leased trucks" are effectively paid for TWO, sometimes THREE times over by desperate drivers wanting "to be their own boss".

Furthermore, when the carrier is collecting $2.50-$3.25 mile revenue and paying the contractor a flat $1.30 mile plus and any collected fuel surcharge ... who is the party coming up short while working his/her butt off, and who is the party pocketing a lot of money with zero risk?

And no, I'm certainly not advocating somebody with no clue about the trucking business go get his own authority and start hauling fully independent because that's an even faster way to bankruptcy for someone with minimal knowledge of the industry.

 

OP: why not try it this way? Instead of starting as L/O, start as a company driver. Run that way for a year or three and see if you can stand the life of driving 1st. Meanwhile, save up some cash (retirement bonuses, etc), put some money aside from your driving checks and save up to buy a used rig directly from a dealer. Then work for whatever company you desire as an owner op. You can use that time as company driver to research what is actually needed, ie: taxes, licencing, minor corrective repairs, etc. You can also use that time to gather the tools that can help you be more productive and successful such as GPS, fridge, etc. Just a friendly suggestion.

And one retired GI to another: Thank you for serving.

 

Even pigs are happy when they are rolling & laying around in their own dunn
.is what your trying say about your lease deals..

 

To the OP,

When I was in driving school my instructor gave me an invaluable piece of advice.

He said that he wasn't going to give his opinion on what company is good or what company is bad to drive for, that was up to us to find out.

BUT, he made us promise him that under no circumstances would we sign an agreement to lease a truck from a freight company.

He said that if we want our own truck, that's great (he got his first one when he was in his early 20s). BUT, we need to either save up the money to go buy it, go to a bank to get a loan, or go to an INDEPENDENT LEASING COMPANY to get a lease.

The bottom line is that freight companies offer leases for one reason and one reason only, IT'S VERY PROFITABLE FOR THEM!

If you step back for a minute and take a look at the whole situation objectively you'll realize that it makes very little sense to lease a truck from a company that also controls your income, no matter how good a reputation the company has. When you do that, you're allowing someone else to control not just your income but your expenses as well. Not a smart move if you ask me.

Aside from the fact that, as others have pointed out, you know nothing about the industry, regardless of how much research you've done, you're giving someone else too much control over you when you sign a lease with a company that you're also relying on for freight to haul.

I've been in it for a year and I am smart enough to know that I don't really know anything yet.

But the one thing that I do know is that I'm not stupid enough to sign a lease with a freight company.

 

Here's when you should lease...Never Ever and only after Never ever ..Was I unclear ? You can be a crop sharer for free no need to pay to be a slave

 

There is a reason there are "no options" for a new driver to lease outside of a mega-carrier! Not to mention the fact that you pay hell trying to get insured! Guys focus on the task in front of you.... learning to drive.... Once you become experienced and are familiar with the industry then you can make a more informed decision from there. Its highly likely that once you do have experience and are familiar with how the whole scene works you will opt to not lease.

Seriously, really focus your efforts on schooling and choosing a decent company to drive for.

 

i think you missed hte big picture.

you question DOES not pay the same as a real O/O.

you make NINETY cents per mile with weekly expenses of roughly 700 plus fuel.

real O/O's haul for TWO PLUS dollars per mile and have weekly expenses of around 300 plus fuel.

BIG DIFFERENCE.,

course, some on this thread could paint a better picutrre. i NEVER DONE THE LEASE. i know better.

AND your only choices are fairly new trucks. that spend a good portion of there first years IN THE SHOP. spending money. instead of being on the road MAKING money.

 

Now that there is some serious cheap freight. You'd have to be a total dumbarse to sign up for that!