Lease Purchase deal question

Discussion in 'Lease Purchase Trucking Forum' started by Shadowtrail, Aug 24, 2018.

  1. Shadowtrail

    Shadowtrail Bobtail Member

    14
    2
    Oct 29, 2011
    Las Vegas, NV
    0
    There's an owner operator offering me a 2 year lease at 400 a week on an international prostar. He "says" he rebuilt the engine and got the truck all fixed up. Has 85000 miles. 10 speed auto Cummins. Paying 88% of the load. I'd work with him for the 2 years then I can go anywhere or stay with him. He also "says" the other drivers he has usually break 7-8k weekly revenue so they take home 2000 plus a week. I've only talked to him on the phone cause not in town at the moment. I can probably get more info when I talk to him in person. Is this one any good with the info I got now?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. RDTrucking

    RDTrucking Light Load Member

    53
    65
    Jul 24, 2018
    0
  4. MysticHZ

    MysticHZ Road Train Member

    5,817
    5,561
    May 28, 2010
    0
    If the truck payment is only $400, the cut 88% and the gross is $7k to $8k, the net had better be closer to $4k plus, not $2k.

    Since that wasnt already patently obvious to you, then you're not ready to be running your own business.
     
    driverdriver and Puppage Thank this.
  5. Shadowtrail

    Shadowtrail Bobtail Member

    14
    2
    Oct 29, 2011
    Las Vegas, NV
    0
    Well yeah I definitely haven't done something like this before. I don't know if it is walk away. I had have to call and ask. I got 3.5 years trucking experience but only as company driver. Just looking at a way to get into the owner op side. I most definitely have a lot to learn. Just thought it would be cool to own my truck eventually. My credit is average but I do have some credit card debt.
     
  6. pmdriver

    pmdriver Road Train Member

    2,338
    3,502
    Nov 14, 2017
    0
    88% of what? numbers can be manipulated easy.
     
    driverdriver Thanks this.
  7. Shadowtrail

    Shadowtrail Bobtail Member

    14
    2
    Oct 29, 2011
    Las Vegas, NV
    0
    He said 88% of the load. He said a $1000 load would pay 880 for example.
     
  8. Western flyer

    Western flyer Road Train Member

    2,807
    6,785
    Mar 13, 2014
    0
    International pro star,
    Rebuilt engine,
    supposedly all fixed up,
    Owner operator, lease purchase deal,
    What could possibly go wrong,
    Go for it.
     
    JonJon78 Thanks this.
  9. bryan21384

    bryan21384 Road Train Member

    12,656
    26,030
    Sep 18, 2009
    Memphis, TN
    0
    88 percent of the load? Man that's generous, but I guess he can do that since he'll get 40,000 if he agrees to the lease and makes it all the way through. Is it 85,000 miles or 850, 000 miles?
     
  10. Shadowtrail

    Shadowtrail Bobtail Member

    14
    2
    Oct 29, 2011
    Las Vegas, NV
    0
    He said 85,000 and was like don't worry the truck is in good condition. Hard to believe people nowadays. Almost every job I've gotten hired onto has lied about the job. It's why I can't find somewhere to stay at. It's always something out here. That's why I want to go do my own thing.
     
    fargonaz Thanks this.
  11. Rooster1291979

    Rooster1291979 Road Train Member

    1,308
    1,750
    Sep 4, 2012
    NOLA
    0
    We can do simple math. The question he was asking is about rates. 88% of $1.00 per mile is horrible.

    Will you get rate confirmations? It's easy to lie to you if you don't know the rate.
     
    Bumper Thanks this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.