Lease/purchase....How do they do it?

Discussion in 'Ask An Owner Operator' started by MNdriver, Apr 7, 2012.

  1. MNdriver

    MNdriver Road Train Member

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    I have been sitting here the last couple of weeks playing with my financial plan for becoming an O/O.....

    I have a system in place to make this happen, but have also been pulling some numbers from some of those "advertisement" booklets at so many truckstops.....

    How do they do it? I can NOT for the life of me make those kind of truck payments and those kind of mileage rates work.

    By the time I pay the truck and authority, wage for myself and all the other maintenance cost, you MIGHT break even if you have good miles.

    Otherwise you are in the red from month one.
     
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  3. dude6710

    dude6710 Road Train Member

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    I know of a buy here pay here place in mn if your interested in becoming a O/O im on my 2nd truck already from them.
     
  4. MNdriver

    MNdriver Road Train Member

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    yeah, I am interested....

    Always looking for something to consider.

    I have a place I am looking to talk to about 40 miles from me.

    PM if you want.
     
  5. DEMO

    DEMO Money Bags

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    What about Lone Mountain?
     
  6. MNdriver

    MNdriver Road Train Member

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    Oh I can make those numbers work like on Lone Mountain.

    I am talking like a place like MegaTrux, Decker, Celadon and such....


    how do they make a $2000 truck payment monthly on cheap rates like 98 CPM? (Megatrux is 94CPM btw..)
     
  7. JustAnotherJarhead

    JustAnotherJarhead Bobtail Member

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    I highly recommend LMT. I just purchased a truck from them.
     
  8. MNdriver

    MNdriver Road Train Member

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    I was just reading that.....

    Didn't see any T600's on the LMT website though for inventory.
     
  9. DEMO

    DEMO Money Bags

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    I don't have a clue of an idea how they do that on 98CPM:biggrin_25524:
     
  10. US MARINE

    US MARINE Heavy Load Member

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    LP programs are for the COMPANY only and a way to negate the costs of running a truck while actually still moving freight .

    If you look at the numbers .. Only about 10% of LP are ran out successful and driver buys the truck . Those 10% are normally single drivers / ( no spouse ) no kids and they live in that truck 360 out of 365 days a year . They are not made for a normal family man to make it .

    Lone mountain
    Arrow
    Freighiner Select

    The way to go over LP . The other problem with LP is your not really a O/ O and that's not an insult either ( here me out ) you run the biz take the responsibility buy the fuel .. But it's a GLORIFIED COMPANY JOB .. Here is the reason in a LP you are buying from the HAND THAT FEEDS YOU and if you don't like it or miles are down your STUCK can't move the truck it's the companies it's NOT YOURS ...

    If you go with Lone Mountain , Arrow. Etc you can move the truck to another carrier but in a LP you CAN'T ... So to me it's not really an O/O it's just a term called LP ( lease purchase) which they basically take as WAVERING LIABILITY ... To a driver ...

    My intention is not to offend anyone who is in a LP and if you bought your truck in a LP you are in the 10-12% I speak of so you did it and that was no small feet and my hat goes off to you ..

    I'd finance a truck ... If you can't then don't go O/O until you can and YES even if you have bad credit .. So did I and I waited and my credit is still not top teir .. If you can put money down on a truck like at LM or Arrow and still have 5-7k to get started afterwards then you are ready to take the leap ... No one is ever really ready I may need to say more prepared
     
    SheepDog and Mommas_money_maker Thank this.
  11. dude6710

    dude6710 Road Train Member

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    how much does a t600 weigh though?
     
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