Lease Questions, please don't attack

“Unless you stay out 3 weeks”
This statement is what sticks out the most to me in your entire post.

I translate that to meaning you’re not into being out that long. If that’s correct a lease isn’t for you. The payments on the truck aren’t going to stop while you’re at home. If you’re both willing to sacrifice and stay out months at a time, sure, the right lease situation could pan out.

 

Greatwide ---> Lease Purchase

 

Amen! Preach it, brother.

 

I have no direct advice. For my situation, remaining a company driver is my best option. So, after exploring the lease or purchase options available, I decided to stay as I am. But, I also realize my specific situation is not everybody's and for some going the lease route is a viable option.
I know of several drivers who made lease stuff work well for them. One trait they all seemed to have in common was a good sense of business acumen and they worked accordingly. Many who seem to fail had unrealistic expectations, lack of business savvy and expected it would all just magically fall into place and they'd be making big bucks. They believed the pipe dream they were sold, hook, line and sinker. The reality I believe is quite different from what companies try to sell you. But, as mentioned many do make it work for them.
I just wish you luck and safe travels. If I had any recommendation, I recommend you consider getting your CDL also. Even if you do things as a lightweight driver and let your hubby handles the bulk of things, if you had a CDL it could potentially give you more options than currently and could be quite beneficial to your endeavors.

 

There is more to a lease than just bringing home more money!!! Take it from someone that has been SUCCESSFUL with it... you need to READ the frickin contract... there is not a lease in the world that is set up to your advantage, even the one I did... the company covers their ### more ways than one and if it's a walk away lease then you are going to get burned somewhere....

The problem with most lease purchase is you are essential paying for a job and running a business that you have NO control over ! Why would you start a business and then have no control over the amount of revenue you make, because you are tied to a dispatcher??? That defeats the whole purpose of starting a business... what happens when u piss off that dispatcher and they cut your loads? That does happen, it happens all the time... they have all the control over your revenue and yet you take all the risk while the company collects those payments week after week...

The absolute only lease purchase that anybody can be successful with is one where you have full control over what freight you are hauling and who you are working with... running your business with your full control and just using the trucking company to pay off a truck... in the long run it is still a better option to go out on your own and buy a rig yourself and then lease on to someone... but the right lease purchase is a great way to learn the business and not take 100% of the perceived risk of owning the truck if you fail! But like I said you need 100% of the absolute control over your revenue ! Not anything less... go research and find those companies, they are not heavily advertised, and you will have to talk to some driver to find out about it... good luck!

 

Rule number 1 in business . DO NOT TRUST ANYBODY!!!

Rule number 2. - NEVER FORGET RULE NUMBER 1

Of course companies advertise b.s. like that all the time, that's how they get you in the door ! Do you not understand how a company makes money off a lease purchase ? They make a #### TON !

You need to READ THE CONTRACT. Better yet if you are interested in a certain companies lease purchase program Send me their copy of a contract and I will show you the 100's of ways they will break it off in your ### while they smile right in your face and tell you to pay up!

 

A little more subtle ... yes L/Os are more profitable. But not because the company is making or saving money on L/Os.

L/Os will typically run 30-40% more miles than a company driver. As group company drivers are pretty inefficient.