Lease Purchase vs financing through a bank?

There are hundreds of LP compaines:
Schneider, Prime, Colonial, CRST, KLLM, Koch, Frey Miller, the list is long....

 

One year is a good minimum starting point because by then you've seen the various seasons associated with trucking. The more experience you have the better your chances of success. Some people get the LP itch sooner and they wind up pulling the trigger after 6 months. Usually the ones that fail in trucking are the ones who make decisions based on rumors or what they heard. Impulsive people who jump quickly are ones who are quick to make un-wise decisions. Good decisions take time just like learning trucking.

 

That depends on the size of the company. The larger companies have a lot of loads and the more loads means you might get home on a more regular basis. Every weekend is a bit of a stretch especially when you are new. Best to look for a regional or dedicated gig if you want regular schedule.

 

No way to know until you start calling the companies and start asking. Driver experience plays a huge roll in landing jobs. A driver with 10+ years experience will land a job faster than someone who only has 2. A driver who has a history of being an A-hole to everyone will have a hard time against a driver who is kind and respectful....and sometimes a company will take a chance on a person who has a great attitude than on a person who has a lot of experience but a lack luster performance history.

 

Absolutely, undoubtedly, with no shred of hesitation the better option is to purchase a truck through a bank loan, if you can get one. The most important reason is your name on the title. What you do with the truck is another story. My first truck was bought through Arrow Truck Sales (used to be a Swift fleet truck) and financed by Transport Funding at 15% . Sure, seeing them sucking my blood (7K a year) I prioritized paying it off. But I could do whatever I wanted with it. Look around! Most of us will tell you the lease-purchase is good for suckers. So is leasing it to a mega carrier. Good Luck!

 

Good Post... Sums it up nicely.

 

The company I run for is out of Richmond, Virginia... Abilene... They have a program of helping driver step into O/O.... I don't think it's a "Lease Purchase" but rather helping you finance the truck to then lease on with them. Something between Bank Financing and a normal Lease Purchase... I don't have the details but it might be worth a call...

And with you being in the same town home time would be convenient too... Not saying every weekend but then you also get time home for you 10s when you are in the yard.

PM me if you want me to get more info for you.