Lease purchase

I'll do it for free.

 

I could be wrong, but I'm pretty sure you can write off 100% of your lease payments when it comes tax time. If you are purchasing the truck(not leasing) and making payments, you can only deduct the depreciation value.

 

I could not of said it better.

Its a medicine show scam. There is no completion on your part. Its up to the company if they want to let you have the truck or not. They allow a certain amount of drivers to get trucks so they can go out and spread the word to attract more suckers. Dont get shiney truck syndrome.

Its like playing a progressive slot machine at the casino....that is the best way I can put it.

PS Fleece purchase drivers are not owner operators. You are an at-will employee. You have no rights to the truck at all. I dont care what they make you sign. By the way....Swift is being sued right now over their Fleece purchase scam.

 

Anyone leased onto a carrier better hope that Swift wins that case ... if not the only way anyone will run thier own truck is with thier own authority.

 

Swift will loose.

Basically the driver has no control or right to the asset (the truck). It does not matter what garbage document the carrier has them sign. I can go on and on with examples. The courts have spoken many times on this scam the companies try to pull on drivers. This also is a dodge for companies to avoid paying what they are responsible for.

Swift LP drivers are nothing more than at-will employees.

There are many many finance institutions that will give the driver the title when doing a lease purchase. Lease Purchasing can be a viable option if you have full rights to the asset (the truck or trailer). The driver will have the title with the lien holder clearly listed. Now the driver has full rights to the truck and can lease to whom ever they want. Its legally their truck. If your credit is good enough you can do a TRAC lease.

Many companies that lease on owner operators will not allow a driver to lease on unless the driver can produce the title to their truck. In other words...demonstrate that the truck is yours and you have full rights to it. There are many reasons for this.

The LP that the carriers put forward is totally different from the legitimate world of leasing.

 

There is nothing in the Swift contract about the truck, other than you have to supply the truck and a qualified driver. Swift doesn't care where the truck comes from as long as it's legal and compliant.

 

I doubt you are a Trucking or Contract attorney. Maybe you are...who knows. Doesn't matter Swift is going to get bit like the other scammers

It matters when Swift is ripping off people, scamming them and dodging financial responsibility. Many of these carriers are being called out for their shady business practices.

Swift will loose just like FedEx, Port Haulers (like Hub and others) and many others.

Nothing wrong with being a company driver. With health insurance costs skyrocketing and everything else....its not such a bad idea to get with a solid trucking company that does not play games. Heck, some even offer matching 401ks and other sweet perks Younger/newer drivers should consider this over wanting to play pretend owner operator.

 

Not an attorney ... just the guy that negotiated the contract, then told the attorney what needed to be in it and then approved what they did.

Like I said the truck has nothing to do with the lawsuit. You're right that the contention of the suit is that Swift contractors are employees.

The bigger issue for the industry, is there is no fundamental difference among any of the operating leases. If Swift goes down, eventually everyone goes down, including all the O/O only companies - Landstar et al. And aren't you leased on to a carrier, no significant difference - other than the compensation - between your contract and Swifts.

 

I have felonies and cant seem to find a trucking company to hire me, so this may be an easy way to get my foot in the door. any idea who would be easiest to get going with?

 

Wow, I am going to go buy a roll of tin foil and start advertising thin foil hats in here, I'll be rich in no time. I absolutely love the conspiracy theories posted in here on l/p deals. The op asked for help finding a fair shake, not everyone's opinion on lease purchase deals.thou can read all about that on every thread posted in this forum just about. Three are some fair deals out there and most of you know it. Some like Schneider require a down payment. A lot of drivers have piety decent luck at prime but there lease is a little different so I would study into then real well first. Freymiller has a decent program, uhh starts at a little over a buck a mile but if you save the money in a short time you can switch over to your own authority and get 76 percent of gross on every load and full fsc. There are probably a hundred out sip dollar bills framed at the terminal from completed leases. There are others but you will probably be best off searching on Google for companies that do l/p and then coming here and use the search tool tho search for threads from drivers doing the l/p from those companies because all these threads ever produce most of the time is paranoia because admittedly yes there are tons of scams out there.