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Leasing a truck?

Discussion in 'Lease Purchase Trucking Forum' started by ambushiz, Aug 28, 2018.

  1. Aug 28, 2018 #1
    ambushiz

    ambushiz Bobtail Member

    16
    3
    Aug 30, 2015
    0
    Hello, I've been trucking for 18months now with a good company but its taking a toll on me with all these micromanagements that's been put in place. So I'm deciding to leave soon and make a BIG change. I hope I'm making the right decision going leasing / owner op.

    I'm looking for some input about what truck to get and what to expect my first year?

    When I say lease/ op - the owner will be buying the truck I want and I'll be making payments on it since I dont have the funds to purchase it myself. I have enough saved for repairs if needed.

    Should I go for a brand new truck and not have to worry about problems or risk taking a chance for an older truck and hope it works out?
     
    ambushiz, Aug 28, 2018
    ambushiz, Aug 28, 2018
    #1
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  3. Aug 28, 2018 #2
    TruckerPete1990

    TruckerPete1990 Road Train Member

    8,623
    5,381
    Jul 16, 2012
    Bentonville Arkansas
    0
    If you cant get the truck in ur name. You should NOT get the truck..
     
    TruckerPete1990, Aug 28, 2018
    TruckerPete1990, Aug 28, 2018
    #2
  4. Aug 28, 2018 #3
    Last Time Around

    Last Time Around Medium Load Member

    609
    833
    Jun 9, 2018
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    Unless you pay cash, the truck is not in your name. Sounds as if he is financing it thru another individual. Nothing different than a bank loan....depending on the contract terms.
     
    Last Time Around, Aug 28, 2018
    Last Time Around, Aug 28, 2018
    #3
  5. Aug 28, 2018 #4
    Last Time Around

    Last Time Around Medium Load Member

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    Jun 9, 2018
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    The "owner" is that the owner of the trucking company? Or a friend, family member? Bank?
     
    Last Time Around, Aug 28, 2018
    Last Time Around, Aug 28, 2018
    #4
  7. Aug 28, 2018 #5
    TruckerPete1990

    TruckerPete1990 Road Train Member

    8,623
    5,381
    Jul 16, 2012
    Bentonville Arkansas
    0
    That's wrong If you use a true finance company the title goes in ur name and a lien goes on the title... Which makes YOU in control of the truck.
     
    TruckerPete1990, Aug 28, 2018
    TruckerPete1990, Aug 28, 2018
    #5
  8. Aug 28, 2018 #6
    Oldironfan

    Oldironfan Road Train Member

    5,776
    5,544
    May 22, 2017
    0
    Just keep leasing trucks until they run out of warranty. And then lease another truck and continue the cycle until they run out of warranty and keep raking in that dough. I didn't get if the OP wanted to lease contract or get their own authority. But either way they'll be able to retire in about never.
     
    Oldironfan, Aug 28, 2018
    Oldironfan, Aug 28, 2018
    #6
  9. Aug 28, 2018 #7
    Last Time Around

    Last Time Around Medium Load Member

    609
    833
    Jun 9, 2018
    0
    OK. I see. My bad. I was thinking of holding a clear title. Thanks.
     
    Last Time Around, Aug 28, 2018
    Last Time Around, Aug 28, 2018
    #7
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