Lease Purchase of Truck Needed

It would be very beneficial to anyone who is considering doing a lease with their carrier to talk with several who have done the leases and actually completed them. Unless you have owned a truck you have no idea of your operating costs. It is expensive to operate a truck. Fuel is only part of the cost. You may want to go to the OOIDA website and check out their spreadsheet for lease operators. They have one for owner operators and lease operators. You can fill in the blanks and their spreadsheet will do the actual calculations. I don't remember if you can access the spreadsheets without being a member, but their website is www.ooida.com. It isn't completely accurate, but should provide a basis for getting a better idea of what you will need to be successful or break even.

Those who are new to this business really don't understand what it takes to successfully run a truck. I would recommend that anyone who is thinking about getting into a truck to get a composition book and track the costs on the truck that they are currently driving. When you purchase fuel, write it down. Put the gallons and price down. When you breakdown keep a tally of those costs. Blow a tire, write it down. You need to also keep track of your miles. Most people who own or lease trucks will pay a monthly or weekly payment.

I am surprised at how many people will lease or buy a truck without doing their homework. Just because you lease or buy a truck doesn't necessarily mean that you will make more than you would as a company driver.

If it were me, I would first find a company where I could earn a living wage. With a year experience, you should be earning at least $30,000-35,000/yr. I am curious about the amount of miles you are getting and your rate per mile?

 

If anybody is replying to betty,

I think she has ...left the building.

But the info can be good for anybody,

that will listen !!

 

cal ael which is ark eqip leasing there good people to deal with just call 800-889-1025 yu can get your your trk paid for its the gods honest truth i did i got 2000 classic ftl. the only thing yu got to run and not refuse lds and go and be flexable far as maint.they will fix your trk just call ael and yu will get paid every thurs scan by mon/tues your money is there thurs. 1;30 on ya card like clock work no bull dirtroadchild said that!!!

 

man i've seen there ads in trk papers and done the math there payments are thru the roof askin way too much than the trk is worth stuff like $60 thou for trk that is like 2006/07 its just too much money then they ask like $3/4 thous.down now who can just walk in with that kinda cash!not!!!!

 

do the math on what they pay there o/ops and run the miles and rev and see if it adds up do it for like couple months and then seee if yu would survive!

 

Dart might have something for you. (No promises) But they might have a used tractor you could use. And there are plenty of loads in Southern Al to keep you rolling. Personally, I'm working on my 3rd lease purchase truck with them, I've got the usual credit problems all of our peers have.

If it interests you, just Google "Dart Transit", they're based in Eagan, Mn.

 

what happened to the first 2 trks yu trade em back on the 3rd i got both mine paid off and still got both of them and still runnin and one's runnin with calark and doing good!

 

First one was an MNX express 1984 International cabover. I traded that in on a new 1996 western Star. Wore that truck out and bought a 1997 FLD. Wore that truck out, now I'm in this one. It's worn out, too- but it's the last one!!:smt035

I promise, no more trucks!

 

I would look into Conway, the company drivers make anywhere between .36-.42 a mile and are getting lots of miles right now. My husband and I are in a lease program and are doing great but we don't have a family nor any bills other then a phone and storage bill. I've had drivers that tell me that my husband needs to learn more and that we are only making half of what we could be making but for us it works. We dont have the best credit nor did we have any to put down on a truck. So we went with Arkansas Equipment Leasing in Little Rock because we we're working at CalArk at the time which owns AEL and Central Hauling. Conway is all about there drivers and we love this company so far. I would really think about switching companies before you jump into a lease only because we have seen weeks without a check during the slow mths.

 

If you don't mind me asking, could you tell us what truck your husband has and how long the lease is for and if there is a buyout at the end what is it? I'm asking because when I search google for "Arkansas Equipment Leasing" the top links are from ripoff report. Just curious if there's any validity to the claims or if its a disgruntled former customer.