Looking For Advice on Leasing

There is a lot to understand about being a l/p driver before signing the contract. There are certain questions that need to be asked and clarified before you ever sign a lease. These are just some questions that normally should be asked, so that there are no surprises.

1) Escrow Account's: How many escrow accounts do they equate to the lease purchase. (Maintenance, Security Deposit, Qualcomm/peoplenet) You need to find out how much they will deduct per week on top of your lease payment that will go into escrow.

2) Plates, Permits, and Bobtail Insurance - You need to ask how they handle this. Is this included in your weekly payment or is this another escrow...

3) You need to find out if it is a walk away lease- if you are not making any money then can you walk away from the lease without being held liable for a certain $ amount. They normally do with the understanding that anything you paid into escrow...they will keep. (2-3,000) POSSIBLY

4)IFTA - you need to find out how they figure the fuel tax, and how the deduct that. Is it paid weekly, monthly, or quarterly?

5) Do they charge you extra cents per mile if your maintenance escrow falls below $1000.

6) Are you paid percentage or by the mile? Most o/o can not make it for less then 1.70 per mile, and that is on the low side. It is more like $2.00 per mile to truly make a little profit. If you are paid a % then every time you take a load, I would ask what the l/h and f/s is, so that you can see if you are going to make money on the load.

7)Prepass/EZpass- do they supply you those, or do you have to pay for them up front out of your pocket or pay a monthly rental fee for them.

So, as you can see it really does take some investigating to understand what you are getting into. Most drivers who do not succeed in l/p are wanting to be home more often then running or they have a l/p truck that is broke down all the time. I would have suggested that you had looked into other companies...because I have heard alot of stories from drivers that tried the l/p with JB Hunt....and had to walk away because they weren't making the money. Best of Luck to ya.

 

$40k for a 2007? Ouch.

 

Use the lease and JB to save up money and then bail!! Go as hard as you can saving every penny and get a little cushion and then call Lone Mountain or ANY other truck dealer and put a down payment down or pay cash........

 

All you can do is give it a shot...I hope everything works out for you.

 

I ran National Carriers lease deal, completed a short term lease saved every penny I could and went to Lone Mountain and got one with no strings attached 3 years ago!! BUT dont plan on actually completing a 3 year lease where you pay weekly, it just wears you down chasing that payment EVERY week.