Lease/Purchase?

Discussion in 'Lease Purchase Trucking Forum' started by Scoundrel, Aug 8, 2013.

  1. spyder7723

    spyder7723 Road Train Member

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    so even after breaking down the numbers, showing you the math, and then comparing that to what you could be making doing it another way, a difference btw, of FORTY THOUSAND dollars a year, you still think it's a good deal? I've got a really nice bridge for sale outside nyc, would you be interested?
     
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  3. Lilbit

    Lilbit Road Train Member

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    You can't be selling the Brooklyn Bridge, that's mine.:biggrin_25522::biggrin_25522:
     
  4. Scoundrel

    Scoundrel Light Load Member

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    Yes, I do still think it's a good deal. Mainly because I was able to get in touch with a trusted friend that's been in the business for a VERY long time. He even owned a small (about 12 trucks) fleet for a while. He tells me I should take it and that's what I'm going to do. Maybe I'm making a mistake, but I've made them before and I'm still rolling.

    Again, thanks for all the input from everyone.
     
    Lilbit Thanks this.
  5. spyder7723

    spyder7723 Road Train Member

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    please come back in six months and tell us how it is going. especially with how much more you make vs how much you made as a company driver.
     
  6. fuzzeymateo

    fuzzeymateo Heavy Load Member

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    I will never understand those who lease purchase. The overwhelming majority fail at it. Why would you give someone else, (the company,) the ability to control your business? Most who go this route say that they don't have enough capitol to buy a truck on their own. To me this is the answer to why they shouldn't be doing this at all. In seventeen years of driving I've noticed the huge increase in companies who do lease-purchases. There's a reason for this and it's not because they are trying to be nice; moreover, I question the integrity of almost all companies who offer a lease-purchase.
     
    spyder7723, rollin coal and drvrtech77 Thank this.
  7. Scoundrel

    Scoundrel Light Load Member

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    I will try to remember to do that.
     
  8. luisrolon

    luisrolon Light Load Member

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    if i were u i would stay company driver, i'm in a lease purchase now and its great but the difference between mines and yours is i pick my own loads off a load board where as you will be waiting on some dispatcher to dispatch you. i'm sorry but if i'm gonna be a l/p i wanna have as much control as possible on where and when i go and at what rate, i get 65% of the rate , just think if your dispatcher has a bad day it can affect your day as well, and i make more per mile $1.40 is really low yeah it sounds like alot compared to what your making now but when you add in all your expenses you'll soon see 1.40 isn't that good maybe if you own your truck with no truck payment then its ok still low tho. i don't know how often you like to be home but going home too much will possibly cause u to go into the negative.
     
  9. Scoundrel

    Scoundrel Light Load Member

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    I have the option of choosing loads or taking a steady dedicated lane that gives me 3000 miles a week. I've been basically living in this truck for ten months. I stay OTR for four to six weeks at a time. I don't even keep a house or apartment. I just get a motel for the couple of days I'm home. If I didn't have personal business, I'd stay out longer. If I choose to take one of the dedicated lanes I'll be home every weekend.

    One of the main reasons I want to do this is so my paychecks will be more stable. Over the last few months my mileage has varied greatly. Sometimes as little as 500 in a week. All the gravy loads with this company are going to the O/Os and leasers.

    So, if they give me the miles they are saying they will (and there's no reason they shouldn't, I've spoken to a number of O/Os with this company and they are all happy) my pay will go up. Maybe not as much as it would if I was buying a truck outright, but it will go up.

    Also, I don't want to dip into my savings for a big down payment. I'm getting the exact same deal they give the O/Os except I'll also have the $1500.00 a month payment. We have a lot of O/Os here, so it must be a pretty good deal. At least for them.

    I forgot to mention that I'll be paid the same loaded or empty.
     
    Last edited: Aug 9, 2013
  10. luisrolon

    luisrolon Light Load Member

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    im in the same boat as you as far as living out of the truck i don't have an apt or nothing like that, if you feel your gonna make more money go for it, not sure what truck your getting and warranties you'll have but 1 major breakdown and all that extra money you make will be gone on repair, its more luck of the draw hopefully you get a good truck and not a lemon. i drive less then 2400 mi a week and bring home $1800+ most loads i book pay $2+ per mile, i work less to make more, keep in mind the more miles you drive the higher fuel expense your gonna and have a higher fuel tax.
     
  11. Scoundrel

    Scoundrel Light Load Member

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    The company takes out .06 CPM for repairs and maintenance. If any of it isn't used I'll get it back at the end of the lease or it could be put towards buying the truck if I choose to or I could roll it over into another lease. If something costs more than I have in escrow, they'll pay for it and work out a payment plan with me.
     
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